Matrixport plans to raise $100 million, Bloomberg learns

Jihan Wu’s Matrixport cryptocurrency lending platform plans to raise $100 million at a valuation of $1.5 billion, according to Bloomberg.

According to the agency’s sources, the company has secured $50 million in investor obligations. They noted that the search for other participants in the round is continuing.

“As part of its business processes, Matrixport regularly engages with key stakeholders, including investors interested in pursuing our mission as a provider of financial services for Crypto assets,” said company spokesperson Ross Gun, confirming the fundraiser.

Singapore-based Matrixport processes $5 billion in transactions per month and manages “tens of billions of dollars” in assets, according to reports. The company has about 300 employees.

Bloomberg ranks Matrixport as one of the largest cryptocurrency lenders in Southeast Asia. One of the main competitors of the platform is Babel Finance, which is restructuring due to financial problems.

In November, Matrixport admitted that “some of the company’s products” were affected by the FTX debacle. The platform said 79 users allegedly suffered losses. However, the firm is confident that it has “no risk of bankruptcy” due to the collapse of the exchange and affiliate Alameda Research.

Recall that in August 2021, Matrixport reached “unicorn” status — the company raised $100 million at a valuation of $1 billion.

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Information source: compiled from FORKLOG by 0x Information.Copyright belongs to the author Роман Петров, without permission, may not be reproduced

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