FalconX Secures $150M Funding From Leading VCs Despite Gloomy Market

  • The latest fundraising round values the company at $8 billion.
  • The business has joined the International Swaps and Derivative Association.

Fintech giants like FalconX continue to get investments from VCs, despite the current gloomy trend in crypto markets. As part of its Series D fundraising round, FalconX, an institutional-level digital asset platform, and crypto brokerage, have secured $150 million in new capital. According to an announcement by FalconX, the latest fundraising round, which closed in early June, values the company at $8 billion, more than doubling its previous Series C round valuation of $3.75 billion in August 2021. To date, the company has raised about $430 million.

Venture Capitalist Optimistic Despite Present Conditions

GIC, the Singaporean sovereign wealth fund, and Facebook’s Eduardo Saverin-backed B Capital Group spearheaded FalconX’s newest financing round. Tiger Global Management, Adams Street, and Thoma Bravo were among the other significant industry investors and venture capitalists that participated in the round of funding.

Following a fresh round of investment, CEO Raghu Yarlagadda stated that FalconX’s institutional clients would be able to expand into new areas and benefit from new products.

FalconX CEO stated:

“FalconX has had no material exposure in this market because of our robust risk management program. We are financially strong and growing because we have a market-risk neutral business model.”

“All assets are deployed only within the FalconX platform,” Yarlagadda said, referring to FalconX’s “over-collateralized” credit products, backed by liquid collateral. On the spot and derivative markets, FalconX has continued to witness significant customer growth, the CEO noted.

In April 2022, FalconX became one of the first crypto swap dealers licensed with the United States National Futures Association, and this investment round came soon after that. The business has joined the International Swaps and Derivative Association as the main member for the first time.

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