Cryptocurrency exchange Coinmetro has successfully raised $7 million in a round, backed by three angel investors and hundreds of shareholders.
After financing, the company's valuation touched a threefold increase to $180 million.
Last year, the company was valued at $60 million
Founded in Estonia in 2018, Coinmetro is an EU-licensed cryptocurrency exchange.
The cryptocurrency exchange also has regulatory registrations in the United States, Canada and Australia.
The company plans to use the new capital to expand its business in the US, UK and Europe, with the introduction of a series of passive income products.
Coinmetro CEO Kevin Murko said:
We have no shortage of ideas and look forward to making them real for our growing community over the coming months and years.
According to Crunchbase, crypto startup Coinmetro has raised a total of $18 million so far.
The company then plans to fund Series A in early 2023.
During the third quarter, the average funding size for the initial round and preliminary round of Series I was $6.5 million.
The digital currency XCM, the original digital currency of the trading platform “Coinmetro”, was positively affected by the success of the last funding round, as it recorded a rise of about 1%.
It is possible for the digital currency XCM to have a successful future as it was for other digital currencies of the trading platforms, especially if the development plans are adhered to and remain at a steady and continuous pace of construction and growth.
