Funding round
FalconX Series C
FalconX, which works in digital asset prime brokerage services in San Mateo, raised $210M in a Series C round announced on 10 Aug 2021, led by Altimeter, B Capital, Sapphire Ventures and Tiger Global Management, at a $3.75B post-money valuation. 13 firms took part, 11 of them already investors. It is FalconX's third venture round on record; the one before was a Series B in Jan 2021.
$210M
Amount raised
$3.75B
Post-money valuation
13
Investors
4 leads
5.6%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced FalconX at $3.75B after the new money. The $210M bought investors about 5.6% of the company. It came 7 months after FalconX's Series B. It is 49% of the $427M FalconX has raised in the venture rounds on record. FalconX raised again 10 months later: a Series D round of $150M in Jun 2022, at $8.00B post-money.
FalconX's funding rounds
FalconX has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Altimeter, B Capital, Sapphire Ventures and Tiger Global Management led the round with 9 other firms. Altimeter, B Capital, Tiger Global Management and Amex Ventures and 7 more had backed FalconX before.
Lead investors
- Altimeter backs 67 venture-backed companies existing investor
- B Capital backs 156 venture-backed companies existing investor
- Sapphire Ventures backs 148 venture-backed companies new investor
- Tiger Global Management existing investor
Also in the round
- Amex Ventures existing investor
- Mirae Asset Venture Investments backs 37 venture-backed companies new investor
- Accel backs 581 venture-backed companies existing investor
- backs 102 venture-backed companies existing investor
- Coinbase Ventures existing investor
- backs 62 venture-backed companies existing investor
- backs 92 venture-backed companies existing investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- Avon Ventures existing investor
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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
11 Series C rounds in Financial Services within a year either side disclosed an amount; the median was $70M, and this round was 3.0 times the median. The closest in time, other companies' Series C rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Bitpanda Financial Services | 17 Aug 2021 | $263M | $4.10B | Valar Ventures |
| Trade Republic Financial Services | 20 May 2021 | $900M | $5.00B | Sequoia Capital |
| ProducePay Financial Services | 20 May 2021 | $43M | not disclosed | G2 Venture Partners and International Finance Corporation |
| Financial Services | 25 Nov 2021 | $25M | $3.39B | Tiger Global |
| Financial Services | 15 Mar 2021 | $70M | not disclosed | TTV Capital |
| Stream Financial Services | 13 Apr 2022 | $175M | not disclosed | Smash Capital and BlackRock |
| Financial Services | 15 Dec 2020 | $65M | not disclosed | Accel |
| Neo Financial Financial Services | 5 May 2022 | $145M | $1.00B | Valar Ventures |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did FalconX raise in its Series C round?
FalconX raised $210M in its Series C round, announced in Aug 2021.
Who led FalconX's Series C round?
Altimeter, B Capital, Sapphire Ventures and Tiger Global Management led it, with Amex Ventures, Mirae Asset Venture Investments, Accel, Accomplice and Coinbase Ventures and 4 more.
What was FalconX's valuation at the Series C round?
$3.75B post-money.
How does it compare with other Series C rounds in Financial Services?
11 Series C rounds in Financial Services within a year either side disclosed an amount; the median was $70M, and this round was 3.0 times the median.
Did FalconX raise again after this round?
Yes: a Series D round in Jun 2022 of $150M at $8.00B post-money.