Blockchain News

Canadian Crypto Platform Newton Raises $20M in Sequence B funding at $200M Valuation

Written by James Smith

Newton, Canada’s main cryptocurrency change, has raised $20 million in Sequence B funding, valuing round $200 million.

The Main One-Cease-Store led the Sequence B spherical for Cryptocurrency Buying and selling. 24/7 World Liquidity & Market Making Companies since 2016 DV Chain. Different buyers embody asset supervisor CI Monetary and Singh Capital Companions, Anthony Pompliano, Tiny Capital and Snowdevil Capital

Toronto-based CI Monetary is the biggest funding administration agency by belongings below administration in Canada with administration asset worth as much as C$384.1 billion (US$304.0 billion).

Drie Urbanky, President and Chief Working Officer of CI Monetary, mentioned cryptocurrencies and blockchain are altering the world of finance and need to present clients with entry to this class.

CI Monetary said via the press launch:

“We made this funding particularly to speed up the timeline by which we are able to lengthen crypto buying and selling capabilities to our wealth administration purchasers.”

In the meantime, as a part of the Sequence B financing settlement, CI may also purchase a minority stake in Newton.

Newton.co has raised a complete of $34.7M in funding over 2 rounds.

Their newest funding was raised on Feb 4, 2022, from a Sequence B spherical.

CI World Asset Administration (“CI GAM”), a subsidiary of CI Monetary, efficiently launched final 12 months ETFs and mutual funds that may be linked to Bitcoin, the biggest cryptocurrency by market capitalization, and Ethereum, the second-largest cryptocurrency.

Picture supply: Newton.co


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