Funding round
FalconX Pre-seed
FalconX, which works in digital asset prime brokerage services in San Mateo, raised $17M in a Pre-seed round announced on 13 May 2020, led by Accel. 7 firms took part. It is FalconX's first venture round on record.
$17M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
FalconX did not disclose a valuation in this round. It is FalconX's first venture round on record, 2 years after it was founded in 2018. It is 4.0% of the $427M FalconX has raised in the venture rounds on record. FalconX raised again 8 months later: a Series B round of $50M in Jan 2021. Its next priced round, a Series C in Aug 2021, valued it at $3.75B.
FalconX's funding rounds
FalconX has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Accel led the round with 6 other firms.
Lead investor
- Accel backs 581 venture-backed companies new investor
Also in the round
- backs 102 venture-backed companies new investor
- Coinbase Ventures new investor
- backs 48 venture-backed companies new investor
- backs 92 venture-backed companies new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Avon Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Financial Services, then Pre-seed rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Financial Services | 1 Feb 2021 | $1.2M | not disclosed | Seedcamp and LocalGlobe |
| Tech Companies | 4 May 2020 | $1.7M | not disclosed | Paytm and LEAD |
| Tech Companies | 1 May 2020 | $1.3M | not disclosed | Bharat Inclusion Seed Fund |
| Investment Consultants & Financial Advisors | 13 May 2020 | $1.1M | not disclosed | unnamed family offices |
| Tech Companies | 27 May 2020 | $1.0M | not disclosed | Vision Ventures |
| Aerospace and Defence | 14 May 2020 | $1.0M | not disclosed | 1517 Fund |
| Tech Companies | 21 May 2020 | $340K | not disclosed | not named |
| Payment Processing & Point of Sale | 5 May 2020 | $174K | not disclosed | GC Angels |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did FalconX raise in its Pre-seed round?
FalconX raised $17M in its Pre-seed round, announced in May 2020.
Who led FalconX's Pre-seed round?
Accel led it, with Accomplice, Coinbase Ventures, Fenbushi Capital, Flybridge and Lightspeed Venture Partners and 1 more.
What was FalconX's valuation at the Pre-seed round?
It was not disclosed.
Did FalconX raise again after this round?
Yes: a Series B round in Jan 2021 of $50M.