21.co enters Swiss unicorn club with $25m raise


21.co, a company that provides access to crypto, has landed $25m in a funding round headed by Marshall Wace.

Also participating in the round were Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners. Following this round, 21.co is valued at $2bn – making it Switzerland’s biggest crypto unicorn.

21.co was founded with the mission to ‘build bridges into the crypto world’. Since its founding, the company claims it has been on a journey to stay at the forefront of the market by providing investors with crypto ETPs, token solutions and a decentralised software platform to create, list and manage ETPs globally.

The round was raised during what 21.co called the ‘crypto winter’ and was the firm’s first raise in over two years. The company ended 2021 on a nine-figure revenue run rate and has seen sustained inflows, even during down markets.

21.co CEO and co-founder Hany Rashwan said, “My co-founder, Ophelia, and I set out with a simple mission to make crypto more accessible. Now, we’re the highest valued and largest tech startup in Switzerland – and we’re still only in the early days. 21.co remains committed to building innovative products that meet investor demand as this asset class continues to gain rapid momentum.”

21.co co-founder and president Ophelia Snyder added, “The success 21.co has experienced over the past four years is truly amazing. We have built an incredibly diverse team, with some of the brightest minds in crypto and brought on best-in class investors. Our drive to revolutionize the world of crypto and build bridges into the asset class is only just getting started.”

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