Funding round
FalconX Series D
FalconX, which works in digital asset prime brokerage services in San Mateo, raised $150M in a Series D round announced on 22 Jun 2022, led by GIC and B Capital, at a $8.00B post-money valuation. 6 firms took part. It is FalconX's fourth venture round on record; the one before was a Series C in Aug 2021.
$150M
Amount raised
$8.00B
Post-money valuation
6
Investors
2 leads
2.1x
Step-up from the Series C
$3.75B in Aug 2021
1.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced FalconX at $8.00B after the new money, 2.1 times the $3.75B of its Series C (Aug 2021). The $150M bought investors about 1.9% of the company. It came 10 months after FalconX's Series C. It is 35% of the $427M FalconX has raised in the venture rounds on record. No later venture round is on record for FalconX.
FalconX's funding rounds
FalconX has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
GIC and B Capital led the round with 4 other firms.
Lead investors
Also in the round
- backs 19 venture-backed companies new investor
- Wellington Management new investor
- Adams Street Partners backs 61 venture-backed companies new investor
- Tiger Global Management new 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 and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series D rounds in Financial Services within a year either side disclosed an amount; the median was $350M, and this round was 43% of the median. The closest in time, other companies' Series D rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Financial Services | 1 Feb 2022 | $165M | not disclosed | Eldridge |
| Citadel Securities Financial Services | 11 Jan 2022 | $1.15B | $22.00B | Sequoia Capital |
| Petal Financial Services | 5 Jan 2022 | $140M | $800M | Tarsadia |
| DriveWealth Financial Services | 20 Aug 2021 | $450M | $2.85B | Insight Partners and Accel |
| Ualá Financial Services | 13 Aug 2021 | $350M | $2.45B | SoftBank Latin America Fund and Tencent |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did FalconX raise in its Series D round?
FalconX raised $150M in its Series D round, announced in Jun 2022.
Who led FalconX's Series D round?
GIC and B Capital led it, with Thoma Bravo, Wellington Management, Adams Street Partners and Tiger Global Management.
What was FalconX's valuation at the Series D round?
$8.00B post-money.
How does it compare with other Series D rounds in Financial Services?
5 Series D rounds in Financial Services within a year either side disclosed an amount; the median was $350M, and this round was 43% of the median.