Crypto Financial Product Provider 21.co Raises US$25M at Unicorn Valuationby Fintechnews Switzerland September 12, 2022
Crypto solutions provider 21.co has raised a US$25 million round led by Marshall Wace at a US$2 billion valuation, making it Switzerland’s largest crypto unicorn.
The round, which included investors, such as Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners was the company’s first raise in over two years.
21.co is a collection of companies, the largest of which is cryptocurrency exchange-traded products (ETPs) issuer 21Shares. The platform is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties such as token provider Amun.
The company claims that it has recorded over US$650 million in net new assets year-to-date from September 2021 to September 2022, and that it hit its peak AUM at US$3 billion in November 2021.
“My co-founder, Ophelia, and I set out with a simple mission to make crypto more accessible. Now, we’re (one) the highest valued and largest tech startup in Switzerland – and we’re still only in the early days,”
explained Hany Rashwan, CEO and Co-Founder at 21.co.