21.co, the world’s leader in providing access to crypto through simple and easy-to-use products, today announced a $25 million round led by Marshall Wace. This round values the business up to $2 billion, making 21.co Switzerland’s largest crypto unicorn. With this round of financing, 21.co will continue to drive rapid, targeted growth through first-of-their-kind products, key market expansions and strategic talent acquisitions. Other investors in the round include Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners.
In addition to funding, the company also announced its new parent company, 21.co. 21.co is a collection of companies, the largest of which is 21Shares, the world’s largest issuer of cryptocurrency exchange-traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties – in addition to Amun, a token provider focused on making the DeFi world more accessible.
This round – raised during Crypto Winter – was the company’s first raise in over two years, a testament to the company’s early success and growing investor demand in the asset class. To prove such investor demand, the company ended 2021 on a nine-figure revenue run rate and has seen sustained inflows, even during down markets. Year-to-date, from September 2021 to September 2022, 21.co recorded over $650 million in net new assets and hit its peak AUM at $3 billion in November of 2021. To support this rapid business growth, 21.co grew its headcount by 75% during this period.
Launched in 2018, by Ophelia Snyder and Hany Rashwan, 21.co was founded to build bridges into the crypto world. Since then, 21.co has been on a tremendous journey to stay at the forefront of the market by providing investors with the most innovative crypto exchange-traded products (ETPs), the broadest token solutions, a decentralized software platform to create, list and manage ETPs globally and more forward-thinking solutions – all powered by free institutional-grade research to educate investors about the evolving industry.
21.co’s raise follows a year of significant growth and product innovation. Most notably, 21Shares:
Launched innovative products, like the world’s first USD Yield ETP and the world’s first Bitcoin and Gold ETP on SIX Swiss Exchange
Released the first crypto ETFs in Australia
Published the sixth issue of its State of Crypto Report, which explores current trends in the crypto industry and what investors are doing to successfully optimize their crypto portfolios.
Launched its Crypto Winter Suite, which includes products like the world’s cheapest Bitcoin ETP, 21Shares’ Bitcoin Core ETP, and the S&P Risk Controlled Bitcoin and Ethereum Index ETPs
21.CO RAISES $25 MILLION, BECOMING SWITZERLAND’S LARGEST CRYPTO UNICORN. Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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