FalconX is a digital asset trading platform and cryptocurrency brokerage that specializes in fintech, cryptocurrency, and blockchain. FalconX’s mission is to provide the infrastructure for future digital assets to be adopted by mainstream institutions at scale, as well as enable seamless price discovery, transfer of value, and trade execution.
The funding round Series D was led by GIC and B Capital. Among other bakers were Thoma Bravo, Wellington Management, Adams Street Partners, and Tiger Global Management. Since the last round in August, FalconX twice increased its valuation. The new funding will be used for data analytics, technology development, and new acquisitions. Moreover, FalconX is going to expand its services to clients in the trade, credit, and prime brokerage sectors.
FalconX, California, the USA, was founded by Raghu Yarlagadda and Prabhakar Reddy in 2018. Before FalconX, Raghu Yarlagadda held product leadership roles at Google. “Our valuation is a reflection of the long-term belief from our investors and conviction in the digital assets market. We’re one of the few companies that have consistently been profitable, exhibited revenue, and customer growth, and navigated volatile market conditions with strong operating rigor and risk management,” CEO Raghu Yarlagadda. As of now, the company has offices across the world, including three offices in the USA – San Francisco, New York, and Chicago, also offices in Valetta, Malta, and Bangalore, India. In plans, the company is going to expand the employee team – by 55 more people which would be a 33% increase in total workforce.