The a16z- and Paypal-backed crypto firm will use the fund to expand its services to APAC and Europe.
Talos’s valuation has reached $1.25 billion after the latest $105 million Series B funding round led by global growth equity firm General Atlantic. Other Investors include Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, and more.
Focused on Institutional Clients
According to the firm’s press release, Talos, a trading infrastructure firm focused on offering crypto services to institutions, said that the new round of investment will help scale and diversify its institutional-grade digital asset platform and accelerate the expansion into APAC and Europe.
The announcement came on the heels of the unicorn’s rapid growth, with institutional trading volume skyrocketing over 20x year-over-year and its end-user base reaching more than 20 million as of 2022. The firm has grown over 400% during the past year, currently offering opportunities in New York, London, Sweden, and Singapore.
Talos CEO Anton Katz said, “digital assets infrastructure will have a wide-scale impact on the entire financial industry,” and touted his prediction that traditional asset classes will eventually move into the crypto space. Reportedly, Katz has noted that the firm does not plan to go public in the near future.
As a trading infrastructure targeted at institutional clients, Talos offers services that power the full trade lifecycle for trading and settlement via a single point of access. Aaron Goldman, Managing Director and Co-Head of Financial Services at General Atlantic, revealed that Talos’s solutions cover every aspect of trading cryptocurrencies and bridging assets from CeFi to DeFi.
“Talos provides enterprise grade order management, liquidity aggregation, algorithmic execution, reporting and compliance to market participants, which should allow for more efficient operations, better execution and lower total cost of ownership.”
$40M Series A Round in 2021
Founded in 2018, the crypto firm raised $40 million in a Series A round last year from Andreessen Horowitz (a16z), PayPal Ventures, Castle Island Ventures, and Fidelity Investments.
Previous investors will continue their partnerships with Talos through this new fund, the release stated, and the firm will leverage this opportunity to accelerate its global expansion and product development.