Sygnum, a global digital asset banking group, has secured US$ 58 million in an oversubscribed funding round, earning it unicorn status with a valuation to over US$ 1 billion.
The round bolstered Sygnum’s balance sheet and CET1 capital, supporting plans for future growth.
Led by Bitcoin-focused venture capital firm Fulgur Ventures, the round saw participation from new and existing investors, along with Sygnum’s co-founders, board, and team members, who continue to hold a majority ownership in the company.
The funds will be used to expand Sygnum’s market presence in the EU/EEA and Hong Kong, enhance institutional infrastructure, and develop Bitcoin-focused products.
Additional investments will strengthen compliance, risk management, and organisational resilience.
Sygnum reported strong growth in 2024, with trading revenues surpassing the previous year’s total by Q3 and annual trade volumes increasing over 1,000%.
This was driven by partnerships with PostFinance and more than 20 banks using its B2B platform, which serves a significant portion of the Swiss population.
The company also launched Sygnum Connect, a 24/7 multi-asset settlement network with partners like AsiaNext and Hidden Road, and Sygnum Protect, a secure custody platform for institutional clients.
Sygnum serves over 2,000 institutional clients across 70 countries, operating through regulated entities in Switzerland, Singapore, Abu Dhabi, Luxembourg, and Liechtenstein.
This latest round follows a January 2024 fundraise, where Sygnum secured over US$40 million.
Mathias Imbach, Sygnum Co-Founder and Group CEO, said,
“Sygnum reaching unicorn status is a strong validation by the market of our business model, strategy and team.
While it is an achievement we are very proud of, it won’t alter the values of integrity and humility, and the importance of displaying confidence without attitude at all times, which have acted as our true-north since day one.”
Gerald Goh, Co-Founder and CEO APAC, added,
“The successful completion of our strategic growth round is proof of Sygnum’s strong and unique position as a leading regulated financial institution in the global digital asset industry.
Offering trusted institutional infrastructure and regulated services for digital assets will continue to be the foundation for Sygnum’s future growth strategy.”
Featured image credit: Edited from Freepik
