Funding round
Coinmerce Series C
Coinmerce, which works in financial services in Haarlemmermeer, raised $75M in a Series C round announced on 20 Jan 2020, led by Accel, at a $500M post-money valuation. 7 firms took part, 5 of them already investors. It is Coinmerce's fourth venture round on record; the one before was a Series B in Jan 2019.
$75M
Amount raised
$500M
Post-money valuation
$425M pre-money
7
Investors
1 lead
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Coinmerce at $500M after the new money. The $75M bought investors about 15% of the company. It came 12 months after Coinmerce's Series B. It is 14% of the $524M Coinmerce has raised in the venture rounds on record. Coinmerce raised again 12 months later: a Series D round of $125M in Jan 2021, at $1.70B post-money.
Coinmerce's funding rounds
Coinmerce has 6 venture rounds on record. This one is highlighted.
- Seed 12 Jul 2016 $2.3M
- Series A 3 Aug 2017, led by Northzone $12M
- Series B 16 Jan 2019, led by Index Ventures $40M
- Series C this round 20 Jan 2020, led by Accel $75M$500M post-money
- Series D 18 Jan 2021, led by Index Ventures and Meritech Capital $125M$1.70B post-money
- Series E 12 Oct 2021, led by Greenoaks $270M$6.30B post-money
Investors
Who put money in
Accel led the round with 6 other firms. Accel, Index Ventures, Northzone and Global Founders Capital and 1 more had backed Coinmerce before.
Lead investor
- Accel backs 581 venture-backed companies existing investor
Also in the round
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Index Ventures backs 353 venture-backed companies existing investor
- backs 104 venture-backed companies existing investor
- backs 295 venture-backed companies existing investor
- backs 108 venture-backed companies existing investor
- Lars Dalgaard new investor
Joined the board: Harry Nelis (Accel).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series C rounds in Cryptocurrency within a year either side disclosed an amount; the median was $65M, and this round was 1.2 times the median. The closest in time, other companies' Series C rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Ripple Cryptocurrency | 20 Dec 2019 | $200M | $10.00B | Tetragon |
| BlockFi Cryptocurrency | 21 Aug 2020 | $50M | not disclosed | Morgan Creek Digital |
| Cryptocurrency | 11 Aug 2020 | $8.0M | $101M | not named |
| Cryptocurrency | 3 Apr 2019 | undisclosed | $1.00B | IDG Capital |
| Paxos Cryptocurrency | 17 Dec 2020 | $142M | not disclosed | Declaration Partners |
| Cryptocurrency | 15 Dec 2020 | $65M | not disclosed | Accel |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Coinmerce raise in its Series C round?
Coinmerce raised $75M in its Series C round, announced in Jan 2020.
Who led Coinmerce's Series C round?
Accel led it, with Lightspeed Venture Partners, Index Ventures, Northzone, Global Founders Capital and Picus Capital and 1 more.
What was Coinmerce's valuation at the Series C round?
$500M post-money ($425M pre-money).
How does it compare with other Series C rounds in Cryptocurrency?
5 Series C rounds in Cryptocurrency within a year either side disclosed an amount; the median was $65M, and this round was 1.2 times the median.
Did Coinmerce raise again after this round?
Yes: a Series D round in Jan 2021 of $125M at $1.70B post-money.