Token-sale platform CoinList recently attained unicorn status when it raised $100 million in Series A round valuing the company at $1.5 billion. CoinList co-founder and CEO Graham Jenkins said the company will use the funds generated to keep growing and scaling its operations.
The round, which was CoinList’s first equity round in almost two years, attracted a lot of notable participants. Agman Partners and Accomplice co-led the funding round, while Alphemy Capital, Continue Capital, CMT Digital, and DFG Capital Management all invested. In addition, Fenbushi Capital, GoldenTree Asset Management executives, Rising Tide Capital, Imperial Partners, and Metaplanet played participatory roles too.
The total amount raised by CoinList till date now stands at $120 million. Its last round, led by Polychain in 2019, generated $90 million. The growing capital injection indicates strength in the vibrant and nearly global business of primary market token sales. Put in perspective, Solana, Mina, Algorand, Flow, among others, rely on CoinList for distributing their native tokens. For investors, those early-stage offerings suggest the exponential returns typically reserved only for venture capitalists. For CoinList, this is also a big business which has also expanded into trading and staking. As Jenkins put it:
“We’re seeing a lot of the new businesses that we’ve developed in the last year – staking and lending, in particular.”
Jenkins further noted that despite the relative newness of these businesses, they were “growing really rapidly for us”.
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