Crypto trading company Talos has received $105 million in Series B financing. The new investors include US financial services giants Citi (C), Wells Fargo (WFC) and BNY Mellon (BK).
- The capital raise brings the company's valuation to $1.25 billion, Talos plans to announce Tuesday. Existing investors including a16z, PayPal, Fidelity and Castle Island Ventures also participated in the round.
- The New York-based company was founded in 2018 and provides technology to support digital asset trading for financial institutions. Its platform provides liquidity access, direct market access, price discovery, automated execution, clearing and settlement.
- About a year ago, the company received $40 million in Series A funding.
- Talos will use the capital to scale and diversify its platform, accelerate expansion plans in APAC and Europe, and expand its products to support the end-to-end trade lifestyle.
- The substantial capital raise with such prominent names from the financial world demonstrates that financial institutions are looking for partners and tools that can accelerate their digital asset trading plans.