Digital asset trader Talos joins unicorn club

Digital asset trading technology developer Talos has joined the unicorn club, following the close of its Series B on $105m.

The FinTech company, which is valued at $1.25bn, raised the funds to expand its product line and hire more staff. It claims the Talos team has grown by 400% over the past year.

Talos hopes to accelerate its expansion into APAC and Europe and built products that support the end-to-end trade lifecycle.

Global growth equity firm General Atlantic led the round, with contributions also coming from Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, DRW Venture Capital, SCB 10x, Matrix Capital Management, Fin VC and Voyager Digital, Graticule Asset Management Asia (GAMA) and LeadBlock Partners.

Existing Talos investor, Andreessen Horowitz, PayPal Ventures, Castle Island Ventures, Fidelity Investments, Illuminate Financial, Initialized Capital, and Notation Capital, also backed the fresh investment.

Talos provides buy-side institutions and service providers with the technology infrastructure to adopt crypto. Its services include trading platforms, marketplace, data and analytics, and portfolio and settlement tools, which are all offered white-labelled and enable clients to transact end-to-end.

Its institutional trading volume has increased by over 20-times year-over-year.

General Atlantic managing director and co-head of financial services Aaron Goldman said, “We believe the growth in digital assets is driving existing players and new entrants to seek out institutional-grade solutions. Talos provides enterprise grade order management, liquidity aggregation, algorithmic execution, reporting and compliance to market participants, which should allow for more efficient operations, better execution and lower total cost of ownership.

“Crypto market structure is still evolving, and Talos’ vision to build a comprehensive toolkit for market participants across CeFi and DeFi positions the company as a competitive disruptor.”

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