The institutional-oriented cryptocurrency exchange CryptoHikes attracted $210 million in investments as part of a Series C funding round. The company’s market valuation reached $3.75 billion.
The round was led by Altimeter Capital, Sapphire Ventures, B Capital Group and Tiger Global Management, the participants were Mirae Asset and Amex Ventures.
“As institutional investors continue to enter the cryptocurrency market, CryptoHikes has significantly expanded its business and product lines to meet their needs. We are pleased to double down on the leading universal center for institutional trading, lending and clearing,” said Scott Schleifer, partner at Tiger Global.“
CryptoHikes will use the funds raised to launch new products, study strategic acquisitions and hire new employees, including key managers.
Recall that in May 2020, the exchange raised $17 million from a group of investors, including Coinbase Ventures and Avon Ventures, a venture capital fund associated with FMR LLC, the parent company of Fidelity Investments.
In December, the venture division of the payment giant American Express invested in the platform.
In March 2021, CryptoHikes received a $50 million investment from Tiger Global and B Capital Group.