[Funding alert] FalconX raises $150M in a Series D round led by GIC and B Capital

Crypto digital assets platform FalconX on Wednesday announced it has raised $150 million in a Series D funding round, at a valuation of $8 billion. The round was led by investment firms GIC and B Capital.

Other firms, including Thoma Bravo, Wellington Management, Adams Street, and Tiger Global Management also chipped in.

In August 2021, the firm had raised funds in a series C round at a valuation of $3.75 billion.

The digital asset platform allows institutions to access and manage all of their crypto strategies through a single interface. With the aim of enabling crypto-as-a-service, it powers banks, fintech companies, and investing applications to quickly integrate cryptocurrency into their product offerings.

Raghu Yarlagadda, CEO and Founder of FalconX, said, “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. In light of recent market conditions, this is extremely valuable to our clients who demand a reliable market infrastructure provider. 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."

In May, the firm became the CFTC (Commodities Futures Trading Commission)-registered swap dealer and one of the first crypto-focused primary level members of the International Swaps & Derivatives Association (ISDA).

Rashmi Gopinath, General Partner, B Capital said “We partner with companies that will have lasting impacts on the industries and customers they serve. As a tech-first digital asset infrastructure platform, FalconX provides a holistic product offering paired with unparalleled execution that supports over 70M+ transactions on a monthly basis."