Crypto Platform Matrixport under Bitmain Co-Founder Received $100M in Series C Funding,Valued over $1B

The Singapore-based digital financial service platform Matrixport led by Wu Jihan, the co-founder of the world’s top Bitcoin mining machine provider giant Bitmain, raised $100 million in Series C financing.

The company’s market value will exceed $1 billion after completing this financing, joining the ranks of cryptocurrency enterprise unicorns.

Reportedly, the C round of financing was led by Russia’s leading Internet investment firms DST Global, venture capital company C Ventures, and Singapore venture capital fund K3 Ventures. Other investors include Qiming Venture Capital, CE Innovation Capital, Tiger Global, Cachet Group, Palm Drive Capital, Foresight Ventures, and A&T Capital.

Matrixport said that the funds raised this time will develop further research and development of its product supply and security while enhancing the user experience for platform users.

The Chief Executive Officer of Matrixport Ge Yuesheng will continue to expand financing and said in an interview:

“Crypto banking is still a fast-growing niche when compared to wallets and exchanges. Our clients are mainly high net-worth individuals in crypto who have a wide range of expectations of risk and return.”

To date, high-tech startup Matrixport has raised a total of $129 million in funding. The latest funding was raised on Apr 26, 2021, from a Series C round through Qiming Venture Partners, who also invested $100 million in funding this time.

As of March this year, Matrixport has managed and managed client assets of more than $10 billion. Ge said today that the company’s goal is to go on the public listing within three to five years and plans to increase the assets under management and custody to hundreds of billions of dollars within five years.

In January 2021, Wu Jihan resigned from the CEO and chairman of Bitmain and announced the establishment of the Bitdeer Group-previously known as the share mining machine business of Bitmain and concurrently serves as the chairman of Matrixport.

Image source: Shutterstock

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