BitGo, a Palo Alto, CA-based provider of wallet solutions for the digital asset economy, raised $100M in Series C funding, at $1.75 Billion valuation.
The round saw participation from outside investors.
The company intends to use the funds to pursue strategic acquisitions and further consolidate its global position.
Founded in 2013, and led by CEO Mike Belshe, BitGo is a digital asset company focusing exclusively on serving institutional clients. In 2018, they launched their trust company, a qualified custodian purpose-built for storing digital assets., and established the New York Trust in 2021. In 2022, BitGo launched institutional-grade staking, DeFi, NFT and Web3 services. The company provides the security and operational backbone for more than 1500 institutional clients in 50 countries, including many regulated entities and cryptocurrency exchanges and platforms.
Bitcoin businesses like Swan, and new Web3 projects including Mysten, use BitGo as their Qualified Custodian to safeguard their customer assets. In addition, clients include Fortune 100 clients like Nike.
BitGo is backed by Goldman Sachs, Craft Ventures, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners.
FinSMEs
16/08/2023