With the new funding CoinList received, it is in the right position to back more projects in the future as the broader digital currency ecosystem is moving further to mainstream adoption.
CoinList, an American digital currency exchange, and token sale platform have raised $100 million in a Series A funding round which was co-led by Accomplice VC and Agman Partners. Other investors who participated in the funding round include Alphemy Capital, Taavet+Sten, Continue Capital, CMT Digital, DFG Capital Management, Fenbushi Capital, GoldenTree Asset Management, and Metaplanet.
CoinList was established in 2017 by a team of 6 including Andy Bromberg, and Graham Jenkin, who now doubles as the Chief Executive Officer. The platform was established as a token sale launchpad to help new projects raise funds from the public, while also helping to distribute the project’s tokens to the members of the public. Following the latest funding round, CoinList is now valued at $1.5 billion, pushing it into the crypto unicorn club.
Using the latest funding, Jenkin said the company will continue to build on its existing infrastructures to accommodate more growth.
“We’ll continue to focus on helping crypto protocols rapidly innovate, build their communities, and drive adoption in the space through products like Governance and Karma,” he said. CoinList Governance helps drive token holders to vote for protocols, and CoinList Karma is a loyalty program that rewards community members for growing protocols, said Jenkin.
With a current staff strength of 75, CoinList is set to double the headcount of its workers over the next 12 months in a bid to serve its ecosystem better. The growth of CoinList is well observable across the board and it has increased its user base by more than 40x in the year-to-date period and total platform users are now 4.5 million.
Its monthly trading volume is north of $1 billion, Jenkin said; there are over $2.6 billion in crypto assets staked and $370 million in loans facilitated this year. Despite coming off as an American platform, CoinList serves the global crypto community, with what Jenkin describes as “insane” growth recorded in Asia and Europe.
CoinList Funding: Building Capacity to Back More Projects
CoinList is undoubtedly one of the leaders in token launchpads today with prominent projects tagging along as part of the platform’s portfolio.
Amongst the top protocols that have raised funds from CoinList include Solana (SOL), a smart contract-focused platform which printed an ATH of $218.73 earlier today. The coin was featured on the CoinList launchpad back since its sale; it has grown by more than 92,727%. Other impressive projects that have emerged from CoinList include Mina, Flow, and NEAR Protocol which also printed a new ATH as reported earlier today by Coinspeaker.
With the new funding CoinList received, it is in the right position to back more projects in the future as the broader digital currency ecosystem journeys onto mainstream adoption. Since its inception, CoinList has raised a total of $120 million from investors, and Jenkin posits that the firm is now profitable and may not be raising funds in the next few years.
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