Crypto Lender Matrixport Seeks $100M Funding Despite Lending Crisis

Bitmain-backed crypto lender Matrixport is the other half of a new funding round aiming for a $100 million raise.

Matrixport, the cryptocurrency company founded by Bitmain co-founder Wu Jihan, is raising $100 million in funding despite the current crypto market crisis.

Leading investors have already committed $50 million for Matrixport's new funding round at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has not yet been finalized as Matrixport is still looking for investors for the other half of the round.

We are excited and look forward to engaging with participants, on similar terms, in the other half of the #funding cycle.

Appreciate the trust our investors continue to place in the #Matrixport team.@business https://t.co/DqQhsYucUy

According to the company, the new round is part of Matrixport's regular funding program. "Matrixport routinely engages with key stakeholders as part of its normal business, including investors willing to participate and deliver on our vision as a provider of digital asset financial services," said Ross Gan, Head of corporate public relations.

Matrixport's new funding comes a year after the company completed a $100 million Series C funding round in August 2021, becoming a unicorn with a $1 billion valuation.

The fundraising was led by leading global venture capital firms, including DST Global, C Ventures and K3 Ventures. Other contributors to the round included major industry investors such as Tiger Global, Qiming Venture Partners, CE Innovation Capital and A&T Capital, alongside existing investors such as Polychain, Dragonfly Capital, Lightspeed, IDG Capital and others. .

According to Bloomberg data, Matrixport h...