This Silicon Valley crypto startup, founded by Brisbane entrepreneur, is now worth $ 2 billion


CoinList, a crypto startup founded in Australia, has raised US $ 100 million ($ 138.3 million) in Series A funding, giving it a valuation of US $ 1.5 billion ($ 2.1 billion). of dollars).

Led by co-founder and CEO Graham Jenkin, a Brisbane-born entrepreneur now based in San Francisco, CoinList is a cryptocurrency exchange that allows users to buy, earn, and trade cryptocurrencies.

But it also serves as a platform for blockchain companies to launch and manage their own token sales and initial coin offerings (ICOs), connecting companies with potential investors.

Having cut his teeth creating websites for Australian Democrats, Jenkin was previously COO of startup job site AngelList, and worked as a user experience design manager for Google between 2006 and 2014, where he designed products such as Google Analytics, AdWords and Google Wallet.

Jenkin co-founded CoinList in 2017, with the goal of accelerating and advancing widespread adoption of cryptocurrencies.

In a Post on LinkedIn Announcing the increase and thanking those who helped the company take the leap, Jenkin called it “the most impactful mission in crypto.”

The latest increase follows 12 months of exponential global growth in user numbers and revenue.

The number of monthly active users has fallen from less than 250,000 in 2020 to just under 3.5 million in 2021.

CoinList now has users in more than 170 countries, with a monthly transaction volume of around $ 1 billion.

The round is led by Chicago-based investment firm Agman and Boston-based Accomplice, one of CoinList’s original backers.

A range of other funds and individuals also contributed. They include partners and active CoinList users around the world, including Asia, Europe and the Middle East, all high growth regions for the business.

It follows an increase of US $ 10 million in 2019 ($ 13.8 million), led by Twitter and Square founder Jack Dorsey.

The latest funding will be used to scale services and operations, and to launch a range of new products, according to a CoinList blog.

Crypto has also made headlines closer to home. Just this week, politicians and tech leaders challenged claims by a spokesperson for the Reserve Bank of Australia that cryptocurrencies are a “fad.”

We have also seen Commonwealth Bank launch its crypto-trading offering, while Crypto.com launched its Visa card locally.

Equity and pension trading start-up Superhero is also planning to enter the crypto business.

Even a fish and chips company in Yeppoon, Queensland has started to accept cryptocurrency, with owner Clint Horsfall saying he expected more small businesses to follow suit.

About Ricardo Schulte

Check Also

GoDaddy shares four easy ways to validate business ideas

Bieber: “That’s why the more resources you use to test your idea, the less risky …