CoinList Valued at $1.5B as Lending, Staking Join Business Mandate

CoinList, a token sale platform popular among cash-hungry crypto projects and early investors alike, has raised $100 million in its first equity round in nearly two years.

The company is now valued at $1.5 billion, CEO Graham Jenkin told CoinDesk. He said Accomplice VC and Agman Partners led the round.

The capital injection signals strength in the vibrant and nearly global business of primary market token sales. Solana, Mina, Algorand, Flow and other projects have all turned to CoinList for help distributing their native tokens.

For investors, those early-stage offerings hint at the exponential returns typically only offered to venture capitalists. For CoinList, whose product is essentially a regulated version of crypto’s fast-and-loose initial coin offering days, it’s a big business that has expanded into trading and staking as well.

“We’re seeing a lot of the new businesses that we’ve developed in the last year – staking and lending, in particular,” Jenkin said. “They’re very immature businesses but they’re growing really rapidly for us.”

Read more: DeFi Derivatives Protocol Vega Raises $43M in CoinList Token Sale

CoinList said its user base expanded forty-fold year over year to 4.5 million accounts. Its monthly trading volume is north of $1 billion, Jenkin said; there are over $2.6 billion in crypto assets staked and $370 million in loans facilitated this year.

Jenkin said the growth underscores the need for capital to help scale. CoinList is focusing its expansion efforts on Europe and Asia where he said growth this year has already been “insane.”

Matthew Rhodes-Kropf, Taavet+Sten, Metaplant, Alphemy Capital, Continue Capital, CMT Digital, DFG Capital Management, Fenbushi Capital, GoldenTree Asset Management and Metaplanet also joined the $100 million funding round.