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Global digital asset banking group Sygnum has successfully secured over $40 million in an interim close of its Strategic Growth Round, surpassing the initial target of approximately $35 million. Azimut Holding, a global asset management group, is the lead investor for this round, joined by both new and existing strategic and financial investors.

Sygnum’s post-money valuation, following the interim close, now stands at $900 million. Employees of Sygnum, along with co-founders, board members, and the management team, continue to maintain majority ownership of the company. This fundraising round witnessed the active participation of Sygnum employees as personal investors on the same terms as other investors.

The funds raised will be utilized to expand Sygnum’s geographical presence into new markets and accelerate the development of fully regulated products, including its Bank-to-Bank (B2B) platform. The B2B platform currently powers the crypto offerings of more than 15 banks and financial institutions globally. The company’s strategic focus involves providing institutional-grade services in the crypto sector.

Sygnum’s growth has been notable, with assets under administration exceeding $4 billion and a client base of over 1,700 from more than 60 countries since its last successful Series B fundraising. Despite challenges in the market, the group’s global team has expanded to nearly 250 members, with licenses to operate in Switzerland, Singapore, the UAE, and Luxembourg.

Giorgio Medda, CEO of Azimut Holding, expressed satisfaction with leading Sygnum’s Strategic Growth Round, citing the surge in demand for well-regulated, institutionalized services in the crypto sector in 2024. He emphasized the positive impact of technology on the investment industry and Azimut’s belief in contributing to Sygnum’s growth.

Mathias Imbach, Co-Founder and Group CEO of Sygnum, expressed excitement about the successful funding round, highlighting the company’s commitment to building trust through regulation and good governance. He emphasized the core thesis that “Future has Heritage” and the strategy to empower everyone to own digital assets with complete trust.

Gerald Goh, Co-Founder and CEO Singapore, sees the fundraising round as a testament to Sygnum’s strong position as a regulated financial institution in the global digital asset industry. He emphasized the industry’s emergence from the ‘crypto winter’ and the increasing interest in partnering with trusted financial institutions.

About Sygnum

Sygnum is a global digital asset banking group with Swiss and Singapore heritage. The company empowers professional and institutional investors, banks, corporates, and DLT foundations to invest in digital assets with complete trust. Sygnum’s range of regulated digital asset banking, asset management, tokenization, and B2B services is supported by institutional-grade security and expert personal service. Holding banking licenses in Switzerland and Major Payment Institution Licenses in Singapore, Sygnum is also regulated in Abu Dhabi and Luxembourg.

Image by Max Kinsella from Unsplash

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