Crypto Infrastructure Firm Prime Trust Secures $107 Million in Series B Funding

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by Bhushan Akolkar · 2 min read
Crypto Infrastructure Firm Prime Trust Secures $107 Million in Series B Funding
Photo: PrimeTrust / Twitter

Prime Trust said that it will use these funds to further expand its products and services and improve its infrastructure.

On Wednesday, June 22, Prime Trust, a leading provider of financial infrastructure for FinTech announced raising more than $100 million in its Series B funding round. With this, the company has raised more than $170 million so far.

Prime Trust offers infrastructure services to some of the leading cryptocurrency exchanges, wallet apps, on ramps, etc. Some of the existing as well as some new participated during the Series B funding. This includes names like FIS, Kraken Ventures, Mercato Partners, Fin Capital, Commerce Ventures, Decasonic, William Blair & Company, Gaingels, GateCap Ventures, University Growth Fund, and Seven Peaks Ventures.

PrimeTrust said that the latest fundraising will help it invest in products and services and further improve its infrastructure. It will also help them to launch new products, offer support to tokenized products, etc. Speaking of the development, Tom Pageler, CEO of Prime Trust said:

“This strategic investment will provide critical operational expertise to further scale Prime Trust into new offerings including wealth products, as well as Web 3 and DeFi products. We’ve seen an unprecedented shift toward greater acceptance of digital assets among wealth managers and RIAs and, to that end, we launched the Prime Trust Crypto IRA, the first IRA solution with a seamless, single API integration. Our strategic investor relationships will enable us to continue to expand into new markets and deepen our commitment to helping our fintech and crypto clients to build and scale quickly, securely, and compliantly.”

Prime Trust Market Operations and Technology

Prime Trust infrastructure is robust enough to deliver accurate results even during the crypto market volatility. Some of the company’s offerings include compliance solutions, fiat rails, wallet technology as well as other plug-and-play products.

These full stack solutions from Prime Trust helps its clients save considerable amount of time and energy. Besides, the company streamlines its client’s backend architecture at a very competitive price. This allows clients to focus on their success, build core businesses, and serve their customers.

As of date, Prime Trust serves nearly 700 fintech and digital assets clients. Rodrigo Vicuna, CFO of Prime Trust said:

“Prime Trust has continued to hit hyper growth this past year despite the market volatility in the fintech and digital asset markets. With the company doubling revenue the last four years in a row, investor enthusiasm around Prime Trust has been extremely high and continues to outpace expectations.”

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