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Crypto trading software provider CoinRoutes has raised $ 15 million in a Series B round that values the company at $ 70 million, its co-founder and CEO told Crypto Investor.
The tour was conducted by a US-based family office, Ayon. Dave Weisberger, CEO, said the company averages around $ 6 billion in notional value traded through the platform per month, supporting more than 1,000 product pairs, including spot trades and derivative products. The round was oversubscribed by a significant margin.
New Jersey-based CoinRoutes is profitable and generates around $ 10 million in revenue each year.
“It was about the quality of the capitalization table as opposed to the fundraising, given that we are already profitable,” Weisberger said.
CoinRoutes works with over 50 exchanges and other liquidity providers, channeling client orders to best execution. The company works with some of the biggest hedge funds and other asset managers with significant crypto holdings.
CoinRoutes customers already have accounts in crypto exchanges, with the company using its software to best route their orders between them.
The company has essentially lifted its round as a Series A, with Bitcoin Suisse taking a $ 3 million convertible stake in the company in 2019.
Crypto trading software provider CoinRoutes has raised $ 15 million in a Series B round that values the company at $ 70 million, its co-founder and CEO told Crypto Investor.
The tour was conducted by a US-based family office, Ayon. Dave Weisberger, CEO, said the company averages around $ 6 billion in notional value traded through the platform per month, supporting more than 1,000 product pairs, including spot trades and derivative products. The round was oversubscribed by a significant margin. Subscribe for the full article
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