Coinmetro, a digital currency exchange, reported raising 7 million euros ($7 million) in a fundraising round that put a 180 million euro valuation on the company.
According to CoinMetro, it intends to use the funding to expand its operations in the U.S. and the U.K. plus Europe. To assist customers during a time of high inflation and interest rates, it is also introducing a number of passive income products.
As stated by the company, the interim capital round serves as a warm-up for a Series A deal scheduled for the first quarter of 2023. Over 100 current stockholders and three angel investors helped raise the money.
Founder and CEO of CoinMetro, Kevin Murcko had this to say:
“After a peculiar year for cryptocurrencies, as indeed for most currencies, we are expecting further volatility ahead, but there is growth to be had for those that understand the market dynamics and can see where the next phase of crypto’s evolution will come from.”
In Tallinn, Estonia, CoinMetro was established in 2018. It is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the Australian regulators, the Financial Crimes Enforcement Network (FinCEN) in the United States, and the FIU in Estonia. It is currently submitting an application for a U.K. according to a corporate spokeswoman, licensing.
