Sygnum raises more than USD 40 million at a USD 900 million valuation

The Strategic Growth Round will provide Sygnum with additional financing to expand into new markets and further extend its suite of regulated products and services in order to take advantage of the increasingly positive market developments in the digital asset industry.

This latest fundraise came on the back of Sygnum’s strong financial and operational performance, and expanded regulatory footprint, which has been achieved during the “crypto winter”.  Sygnum closed 2023 with a USD 100M+ annualised revenue run rate and achieved positive cash flow in Q4. Since its last successful Series B fundraise, Sygnum’s assets under administration have grown to over USD 4 billion, with a client base of over 1,700 from more than 60 countries. To support the company’s increasing client activity and operations, the group continued to grow its global team now nearing 250 team members. Outside of Switzerland and Singapore, the group is also licenced to operate in the UAE and Luxembourg.

The round is oversubscribed. As of the completion of this interim close the company’s post-money valuation stands at USD 900 million. Global asset management group Azimut Holding is the lead investor for the round and are joined by other new and existing strategic and financial investors. Consistent with prior fundraising rounds, the Strategic Growth Round also saw Sygnum employees participating as personal investors on the same terms. Sygnumers, together with the co-founders, board members and management team continue to hold majority ownership of the company.

(Press release / SK)
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