Switzerland-based digital asset banking group Sygnum has successfully secured over USD 40 million in its ongoing Strategic Growth Round. The Strategic Growth Round surpassed the initial target of approximately USD 35 million, and the interim close places Sygnum's post-money valuation at USD 900 million according to the official press release.

The funds raised are intended to support the company's expansion into new markets and enhance its suite of regulated products and services amid positive developments in the digital asset industry. The Strategic Growth Round, oversubscribed at the time of writing, has garnered significant interest, with Azimut Holding, a global asset management group, serving as the lead investor. The fundraising reflects Sygnum's financial and operational performance during the so-called 'crypto winter,' marked by a USD 100 million+ annualised revenue run rate at the close of 2023 and positive cash flow in Q4 according to Sygnum's data.

It's worth noting that Sygnum employees also participated as personal investors, maintaining the company's majority ownership. The proceeds from this round will be allocated towards expanding Sygnum's global presence into untapped markets and accelerating the development of fully regulated products, including its bank-to-bank (B2B) platform, presently supporting crypto services for several banks and financial institutions worldwide. Other recent developments from Sygnum Sygnum's recent developments include partnerships with PostFinance in Switzerland and Bordier & Cie's Singapore arm, improving its position in the digital asset sector.

Since the Series B funding round, Sygnum reports that its assets under administration have grown to over USD 4 billion, with a client base exceeding 1,700 from 60 countries. The company, with licenses to operate in the UAE and Luxembourg, has maintained a workforce of nearly 250 team members around the world. In the official press release, representatives from Azimut Holding expressed satisfaction with leading the Strategic Growth Round, emphasising Sygnum's important role in providing well-regulated, institutionalised crypto services.

Sygnum's Co-Founder and Group CEO highlighted the company's commitment to building trust through regulation and governance, positioning it as an important financial institution in the digital asset sector. Other company officials saw this successful funding round as confirmation of Sygnum's strong position in the emerging post-'crypto winter' landscape, supporting the company's mission to offer fully regulated solutions to a growing investor base. .