Talos, a PayPal-backed crypto startup, has acquired fresh money from firms such as Ken Fox’s private equity firm Stripes, BNY Mellon, Citi, and others.
PayPal-backed cryptocurrency startup Talos has become the industry’s newest unicorn, with a $1.25 billion value after a new fundraise.
Talos raises $105 million
According to the May 10 announcement, Talos has acquired $105 million in a Series B fundraising round headed by General Atlantic, a prominent global growth equity company.
Talos will use the funds to expand its institutional-grade digital asset platform and accelerate its growth across Asia-Pacific and Europe.
Participants in fundraising
Ken Fox’s private equity firm Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, investment firms DRW and SCB 10x, crypto trading platform Voyager, and others participated in the fundraising.
“This investment demonstrates BNY Mellon’s commitment to the future of digital assets,” said Jason Vitale, global FX head at BNY Mellon. He also mentioned that BNY Mellon is one of the new experts on Talos’ Strategic Investor Forum, which is striving to provide institutional solutions for the cryptocurrency industry.
Existing investors from Talos’ $40 Series A investment, which was completed in May 2021, also participated in the fundraising round, including Andreessen Horowitz, PayPal Ventures, Fidelity Investments, Castle Island Ventures, Illuminate, Notation Capital, and Initialized Capital.
Anton Katz, co-founder and CEO of Talos said, “This fundraising round signals a critical turning moment for the industry, we have heard that the institutions are on their way. The institutions have arrived, and we are incredibly delighted to be the preferred digital asset trading platform for top institutions worldwide.”
Talos, founded in 2018, is an institutional-grade infrastructure technology provider in the cryptocurrency business, including trading, settlement, and other services.