Lausanne based digital asset company METACO has just announced its successful raise of $17 million in a Series A funding round backed by notable strategic industry investors.
Despite a turbulent economic climate, METACO is announcing to have an oversubscribed round, with double the demand of the initial target. According to METACO, this funding round represents continued support from existing investors combined with significant interest from new strategic partners in security technology, central bank infrastructure, Swiss and global banks, and venture firms focused on financial technology.
Giesecke+Devrient, the German-based security technology company and one of the main central bank infrastructure partners, led the round. Standard Chartered Bank, Zürcher Kantonalbank, and venture capital firm Investiere joined the round, which also saw all existing strategic shareholders, Swisscom, SICPA, Avaloq, and Swiss Post increase their commitments.
“Our ability to expand notable Swiss strategic partnerships to new global partnerships in this round, is a significant endorsement of our growth internationally, as well as a demonstration of rising institutional interest in digital assets.”METACO PR
Launched in 2018, METACO’s institutional operating system for digital assets, SILO, enables large financial institutions to securely integrate cryptocurrencies, tokens, and distributed ledger use cases into their core infrastructure. Its framework for digital asset custody, transaction management, trading, and tokenization has made it a leading choice for banks and exchanges. METACO has significant Tier 1 and Tier 2 bank implementations including FINMA, BaFin, Banco de España, ECB, and MAS regulated banks and exchanges.
“I am really proud of our team and this funding round will push us to new heights. METACO not only secured an impressive round of funding, but also has a number of significant partnerships and integrations coming down the pipeline. I look forward to working with our new shareholders and encourage companies to get in touch to explore possible synergies.”Adrien Treccani, CEO and Founder of METACO,
The Series A funding will fuel the next phase in METACO’s growth in sales, product, and partnerships. The ambition is to broaden METACO’s presence in the US, South East Asia, and Western Europe.
According to METACO, research and development are at the core of the company’s business strategy, and the plan is to increase investment in R&D to cement the company’s position as the leader in digital asset infrastructure. METACO will also be expanding its product and addressable market with the launch of a fully managed, secure, and cloud-based offering, SILO, that will open up the solution to the entire institutional market.
“The tokenization narrative is gaining momentum among regulators and central banks, encompassing a broad spectrum of promising innovations ranging from digital currencies to national identities. Yet tokenized assets require a trusted, secure, and scalable solution to handle the safeguarding of private keys. Following extensive market research, we identified METACO as the dominant player in its field. This large funding round, completed during a period of notable market uncertainty, is a significant milestone for METACO and will allow the company to accelerate its global growth and anchor its position as a category leader in the crypto-custody market.”Assaf Shamia, Investment Director at Giesecke+Devrient
“We believe that digital assets are here to stay as an asset class. However, the infrastructure is still very nascent. We are developing a venture to meet the demands of institutional investors for an end-to-end institutional grade custodian of digital assets, which meets regulatory standards. We are pleased to partner and invest in METACO, as a leading provider of security-critical digital asset infrastructure, which will provide both ease of use and uncompromising security.”Alex Manson, Global Head of SC Ventures, the innovation, fintech investment and venture arm of Standard Chartered
“This round represents the next important step in realizing our vision, ensuring that we continue to make progress in our mission to transform the financial services industry. “METACO PR
METACO is the leading provider of security-critical infrastructure enabling financial institutions to enter the digital asset ecosystem. The company is trusted by top banks, exchanges and infrastructure providers globally.
Founded in 2015, METACO brings together a diverse team of industry specialists in software, security, cryptography and banking to transform the financial services industry. The company is deeply integrated into the banking sector through a growing network of strategic partners and institutional shareholders.