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Crypto Trading Firm Talos Raises $105M
Citigroup, Wells Fargo and BNY Mellon were among the investors that valued the firm at $1.25 billion.
Updated May 11, 2023, 5:37 p.m. Published May 10, 2022, 10:28 a.m.
Crypto trading platform Talos raised $105 million in a Series B funding round that included investments from U.S. financial services giants Citigroup (C), Wells Fargo (WFC) and BNY Mellon (BK).
- The fundraising round gave the firm a $1.25 billion valuation, Talos is scheduled to announce on Tuesday. Existing investors Andreessen Horowitz, PayPal (PYPL), Fidelity and Castle Island Ventures also participated in the round.
- The New York-based firm was founded in 2018 and provides technology to support digital asset trading for financial institutions. Its platform offers liquidity access, direct market access, price discovery, automated execution, clearing and settlement.
- It raised $40 million in Series A funding around a year ago.
- Talos will use the capital to scale and diversify its platform and accelerate expansion plans in the Asia/Pacific region and in Europe, as well as extend its products to support end-to-end trade lifestyle.
- The participation of prominent mainstream financial institutions in the funding demonstrates the appetite in traditional financial circles for partners and tools that can accelerate their digital asset trading plans.
Read more: DBS Will Focus on Institutional Crypto Before Looking at Retail Trading Desk
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