Crypto exchange Coinmetro has successfully raised $7 million in funding in a round backed by three angel investors and hundred shareholders.
Following the funding, the valuation of the company has touched a three-fold increase to $180 million. Previously, the company was valued at $60 million last year.
Founded in 2018, Estonia-based Coinmetro is an EU-licensed exchange. The crypto exchange also has regulatory registrations in the US, Canada and Australia.
The company plans to use the new capital to scale up operations in the US, UK and Europe, while also rolling out a series of passive income products.
Coinmetro CEO Kevin Murcko said, “we have no shortage of ideas and are looking forward to making them real for our growing community over the months and years to come.”
According to Crunchbase, the crypto startup has altogether raised a total of $18 million to date.
The company next plans to raise a Series A in early 2023.
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