Series B raises USD 90m, accelerating expansion of Web 3.0 offerings & into new global markets
Summary
• None Sygnum’s Series B is led by Sun Hung Kai & Co. Limited (SEHK: 86), a leading Hong Kong listed alternative investment financial services institution • None Other significant co-investors in the round include Canadian investment firm Meta Investments, prominent blockchain, non-fungible token (NFT) and metaverse gaming companies including Animoca Brands and Wemade, founders of leading decentralized finance (DeFi) protocols and existing strategic investors including SBI Holdings and Siam Commercial Bank’s digital investment arm, SCB 10X • None The round gives Sygnum a post-money valuation of USD ~800 million, underpinned by a tenfold increase in consolidated gross revenues in 2021, an institutional client base now nearing 1,000 and assets under administration growing to over USD 2 billion • None Proceeds will accelerate the development of new institutional-grade Web 3.0 offerings, expansion into new global markets and the co-creation and international distribution of products with new strategic investors Zurich, 6 January 2022 – Sygnum, a digital asset technology group with a Swiss banking license and a Singapore asset management licence, has raised USD 90 million in an oversubscribed Series B funding round led by Sun Hung Kai & Co. Limited. Fuelled by continued strong demand for its integrated portfolio of regulated digital asset products and services, in 2021 Sygnum delivered a tenfold year-on-year increase in consolidated gross revenues. In the same period, its client base neared 1,000 financial institutions, banks, corporates and private investors, and its assets under administration grew to well over USD 2 billion. This financing round is a key milestone in our global expansion and in our mission to empower everyone everywhere to own digital assets with complete trust”, says Mathias Imbach, Sygnum Co-Founder and Group CEO. Lee Seng Huang, Group Executive Chairman of Sun Hung Kai & Co. Ltd, says: “We have a strategic vision to expand our fund management offerings into digital assets.