FalconX, a San Francisco, CA-based all-in-one platform for institutions trading cryptocurrency, received an investment of undisclosed amount from American Express Ventures.
American Express Ventures joined existing investors Accel, Accomplice VC, Coinbase Ventures, Fenbushi Capital, Flybridge Capital Partners, Lightspeed Venture Partners, and Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments, adding to the $17m in funding FalconX announced on May 13, 2020.
Trading as principal, FalconX provides institutional clients with the ability to access cryptocurrency markets through a single platform for trading, credit, and clearing.
Led by Raghu Yarlagadda, CEO and co-founder, the company has experienced revenue growth of 350% since completing its last funding round (May 2020). It today serves 250 institutional clients, and its transaction volumes have tripled to around $3 billion on a monthly basis.
FalconX has offices in the US, India, and Malta.