Funding round
Coinmerce Series E
Coinmerce, which works in financial services in Haarlemmermeer, raised $270M in a Series E round announced on 12 Oct 2021, led by Greenoaks, at a $6.30B post-money valuation. 9 firms took part, 6 of them already investors. It is Coinmerce's sixth venture round on record; the one before was a Series D in Jan 2021.
$270M
Amount raised
$6.30B
Post-money valuation
$6.03B pre-money
9
Investors
1 lead
3.7x
Step-up from the Series D
$1.70B in Jan 2021
4.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Coinmerce at $6.30B after the new money, 3.7 times the $1.70B of its Series D (Jan 2021). The $270M bought investors about 4.3% of the company. It came 9 months after Coinmerce's Series D. It is 51% of the $524M Coinmerce has raised in the venture rounds on record. No later venture round is on record for Coinmerce.
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 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 this round 12 Oct 2021, led by Greenoaks $270M$6.30B post-money
Investors
Who put money in
Greenoaks led the round with 8 other firms. Index Ventures, Accel, Meritech Capital and Lightspeed Venture Partners and 2 more had backed Coinmerce before.
Lead investor
- Greenoaks backs 77 venture-backed companies new investor
Also in the round
- Altimeter backs 67 venture-backed companies new investor
- Alkeon backs 51 venture-backed companies new investor
- Index Ventures backs 353 venture-backed companies existing investor
- Accel backs 581 venture-backed companies existing investor
- Meritech Capital backs 84 venture-backed companies existing investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- backs 104 venture-backed companies existing investor
- backs 295 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Cryptocurrency, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Ripple Cryptocurrency | 21 Sep 2021 | $60M | $357M | Bloom8 and Ajax Strategies |
| N26 Banks & ATMs | 18 Oct 2021 | $900M | $9.00B | Third Point Ventures and Coatue |
| BetterUp Professional & Management Training | 8 Oct 2021 | $300M | $4.70B | Wellington Management and ICONIQ Growth |
| CRED Payment Processing & Point of Sale | 18 Oct 2021 | $251M | $4.01B | Tiger Global and Alpha Wave Global |
| CarDekho Automobile Dealers & Manufacturers | 13 Oct 2021 | $250M | $1.20B | LeapFrog Investments |
| Devo Tech Companies | 26 Oct 2021 | $250M | $1.50B | Technology Crossover Ventures |
| Tech Companies | 26 Oct 2021 | $180M | $1.00B | Baker Hughes |
| Tech Companies | 5 Oct 2021 | $150M | $800M | Permira |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Coinmerce raise in its Series E round?
Coinmerce raised $270M in its Series E round, announced in Oct 2021.
Who led Coinmerce's Series E round?
Greenoaks led it, with Altimeter, Alkeon, Index Ventures, Accel and Meritech Capital and 3 more.
What was Coinmerce's valuation at the Series E round?
$6.30B post-money ($6.03B pre-money).