Sygnum achieves unicorn status with $58m funding round led by Fulgur Ventures

January 15, 2025

Sygnum, a global digital asset banking group, has raised $58m in an oversubscribed strategic growth round.

This funding round brings the company’s valuation to over $1bn, marking its entry into unicorn status.

The investment was led by Fulgur Ventures, a digital asset-focused venture capital firm, and included contributions from new and existing strategic and financial investors. Sygnum team members also participated, reflecting strong internal confidence in the company’s vision and strategy.

Sygnum specialises in providing institutional-grade digital asset banking, asset management, and tokenisation services. Its platform supports a diverse client base, including institutional investors, corporates, and decentralised ledger technology foundations, offering secure, regulated solutions tailored to the rapidly evolving digital asset landscape.

The company plans to deploy the new funding to expand its market presence in the EU/EEA and launch regulated operations in Hong Kong. Sygnum will also pursue strategic acquisitions and bolster its operational resilience through investments in compliance and risk management.

Recent achievements underpinning Sygnum’s growth include a significant increase in trading activity, with 2024 revenue across its digital asset and traditional trading products surpassing the previous year by Q3. The firm’s B2B platform, used by over 20 banks, delivers regulated digital asset services to a substantial portion of Switzerland’s population.

In July 2024, Sygnum introduced Sygnum Connect, a 24/7 multi-asset settlement network, and later launched Sygnum Protect, a custody solution for institutional clients to secure collateral while continuing to trade on major crypto exchanges.

Mathias Imbach, Sygnum’s co-founder and group CEO, said: “Sygnum reaching Unicorn status is a strong validation by the market of our business model, strategy and team. While it is an achievement we are very proud of, it won’t alter the values of integrity and humility, and the importance of displaying confidence without attitude at all times, which have acted as our true-north since day one.

“As Switzerland is currently losing ground to other jurisdictions as a preferred digital asset hub, it is also our obligation to highlight the need for Switzerland to not ignore the importance of continuous innovation in the financial sector and to continue to attract talent and capital to remain relevant in the long-term. In that way, Sygnum’s mission is only at the very beginning.”

Gerald Goh, co-founder and CEO APAC, added: “The successful completion of our Strategic Growth Round is proof of Sygnum’s strong and unique position as a leading regulated financial institution in the global digital asset industry. Offering trusted institutional infrastructure and regulated services for digital assets will continue to be the foundation for Sygnum’s future growth strategy.”