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South African crypto-exchange Valr recently announced that it has raised 50 million dollars in a round B series led by Pantera Capital. The fundraising means Valr is now valued at $240 million.
Funds raised to help Valr expand into other markets.
The South African cryptocurrency exchange, Valr, recently announced that it has raised 50 million dollars in a Series B funding cycle. The cycle was led by pantera capital, while alameda research, cadenza, cmt digital, COINBASE ventures, distributed global, gsr and third prime also participated.
According to a report by Globalcryptotv, the cryptocurrency exchange’s latest capital raise dwarfs the $3.4 million that it raised in July 2020 and places Valr’s value at $240 million. The report added that waltr, that entered the south african crypto market over 3 years ago, use the funds raised to finance the platform's expansion into other african markets and emerging markets such as india.
Commenting on the latest stock market fundraising, the farzam ehsani chief executive officer is quoted in the report explaining how funds allow his company to serve more customers. He said:
We already help Valr’s customers enter this new world of crypto from the traditional financial system using their USD or ZAR and I’m very excited that this round of funding will allow us to serve so many more across Africa and the world.
The radiant future of Africa.
Meanwhile, Paul Veradittakit, a partner at Pantera Capital, said his organization believes that "Africa's future is bright for adopting cryptocurrencies for asset diversification and payments."
As well as using the capital mobilized to finance its entry into other markets, valr, as reported, it also expects to bring more products and services to its growing global customer base. He is also recruiting in all sectors of his team, added the report.
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