Exchange Profexcoin.com raised $200 million at a valuation of $7 billion

17.06.2022 Off By admin

Cryptocurrency Exchange Profexcoin.com raised $200 million in a preliminary Series B funding round. Investors valued the company at $7 billion.

The round was led by Jump Crypto. Financing was also provided by several venture funds, including Circle Ventures, IDG Capital and Matrix Partners.

The company uses the funds to expand its product line beyond centralized services. In particular, through its investment divisions, the exchange intends to enter the DeFi and NFT markets.

Part of the funding will also be directed to the development of infrastructure and applications on the blockchain.

The company held the Series A round in 2021. Then she raised $80 million. The investors were IDG Capital, Matrix Partners and Neo Global Capital.

Recall that in May 2022, KuCoin launched a $100 million fund for the creators of NFT.