Share this article
Crypto Custodian Copper Raises $196M in Series C Funding Round
The company also reported a loss of $16 million last year, up from $4.1 million in 2020.
By Nelson Wang
Updated May 9, 2023, 3:59 a.m. Published Oct 12, 2022, 7:53 p.m.
Make us preferred on Google
London-based crypto custodian Copper Technologies has raised $196 million in new funding this year, according to company filings with the U.K. government.
The new funding is part of an ongoing Series C investing round in the company. Of the $196 million, $181 million came from new and existing shareholders, with the rest coming from a convertible loan note.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The valuation of the firm was not known, and the company reported a loss of $16 million in 2021, up significantly from $4.1 million in 2020. Copper didn't immediately respond to a request for comment.
CoinDesk reported this summer that Copper was looking to close a funding round soon that had been delayed from 2021. At the time, the company was looking to be valued at around $2 billion, down from the $3 billion valuation it was reportedly seeking in November 2021.
Bloomberg first reported on Copper’s latest funding round.
Read more: Crypto Custody Firm Copper Appoints Tim Neill as Chief Risk Officer
CORRECTION (Oct. 12, 2022 20:05 UTC) – Fixes Copper's name in the headline.
More For You
More For You
The Genius Act ripple effect: Sui executives say institutional demand has never been higher
Evan Cheng and Stephen Mackintosh said 2025 marked a turning point for institutional adoption, with tokenization and agentic commerce emerging as the next frontier.
What to know:
- Executives cited ETF flows, DAT growth and major trading firms entering crypto.
- Tokenization and instant settlement could blur the line between traditional and decentralized markets.
- Low-latency design and composable tooling aim to power AI-driven and tokenized financial use cases.
Top Stories
