Crypto trading platform FalconX sees valuation hit $8bn

GIC and B Capital led the company's $150 million Series D financing.

  • FalconX’s other backers include Accel, Adams Street Partners, Altimeter Capital, American Express Ventures and Lightspeed Venture Partners
  • Company says its valuation has more than doubled in less than a year
  • With this funding, FalconX has raised a total of more than $430 million

FalconX, which operates a crypto trading platform for institutional investors, has raised $150 million in Series D financing. GIC and B Capital led the round with participation from Adams Street Partners, Thoma Bravo, Tiger Global Management and Wellington Management.

The funding puts FalconX at a valuation of $8 billion, the company said in a press release. It was previously valued at $3.75 billion when it raised a Series C raise in August 2021.

“FalconX is one of the very few crypto prime brokerages who do not take on market risk, so we’re not in conflict with our clients and their trading strategies,” Raghu Yarlagadda, CEO and founder, said in a statement. “This investment is a validation of our client-first focus, the health and strength of the crypto industry, and the move towards digital asset transformation.”

With offices in Silicon Valley, New York, Chicago, Bengaluru and Malta, FalconX’s crypto-as-a-service offering powers banks, FinTech institutions and investment applications to add crypto to their product offerings.