Copper Raises $196 Million in Series C Funding

    After a loss of $15.95 million in 2021, cryptocurrency custody platform Copper successfully raised $196 million in Series C funding.

    Copper Technologies, a London-based crypto custody provider, has raised $196 million in the company’s ongoing Series C round: 

    Accordingly, $181 million came from new and existing shareholders, the remaining $15 million was a convertible loan.

    Earlier this summer, Copper was looking to close a funding round that had been delayed from 2021. At the time, the company was aiming to raise $500 million at a valuation of around $2 billion and was already attracted a large number of investors such as Barclays and hedge fund billionaire Alan Howard.

    However, in 2021, Copper faced a loss of  £14.4m (£15.95m), according to documents filed with the UK government. So, the funding round was unfinished. 

    Copper is cooperating with authorities to seek to go against anti-money laundering (AML). The company has also applied for a license to operate as a legal cryptocurrency service provider in UK.

    Besides Copper, there is a long list of other notable fundraising deals in September-October such as Azuki ($30 million), Messari ($35 million), Sardine ($51.5 million), Doodles ($54 million). USD), Sender ($4.5 million), Mysten Labs ($300 million), Deribit ($400 million), Strike ($80 million), MPCH Labs ($40 million), NYDIG ($720 million) and Golden (40 million USD).

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