BitMart Announces Series B Raise Led by Alexander Capital Ventures
New York, New York--(Newsfile Corp. - November 29, 2021) - BitMart has recently announced the closing of a Series B fundraising round led by the New York-based private equity firm Alexander Capital Ventures, the same firm that invested in well-known industry disruptors, Airbnb, Spotify, and Kraken, and joined by Alpha Square Group, Chaos Ventures, and others at a valuation of over $300 million.
The last 12 months have seen not only cryptocurrency assets but also the exchanges from which they may be obtained explode into the public consciousness. Being founded back in 2017, BitMart has experienced a measure of growth, as evident from its 100x increase in daily active users and doubling of team members in the last ten months. Beginning in the third quarter of 2021, BitMart has pioneered its integration with world-renowned public chain ecosystems, and enabled a complete fiat-to-crypto and crypto-to-fiat cycle thanks to partnerships with trusted payment industry leaders. Additionally, BitMart has launched its flexible savings and locked savings products alongside actively establishing its connection with new projects and reinforcing links with existing ones.
Commenting on the strides made by BitMart which drew his firm to co-lead the Series B fundraising venture for the exchange, Jonathan Gazdak, the Manager of Alexander Capital Ventures shares, "We are excited by the opportunity to support and work with BitMart's talented team of professionals. This well-managed organization has experienced tremendous growth and success in the digital asset exchange space. The company's disruptive technology has quickly made them an industry leader. We couldn't be more pleased with the company's current state and look forward to being involved in the future evolution of the business."
Since the third quarter of 2021, BitMart has pioneered integration efforts with such world-renowned public blockchain ecosystems as Solana, Polygon, Avalanche, and Near Protocol and it focuses on the ecological development of the entire blockchain following the Series B closing.
To spur this development, BitMart will first continue to nourish the potential of its metaverse development and expand on its potential for social connection, experimentation, and entertainment. Additionally, BitMart has been supporting blockchain projects specializing in incorporating Layer-1 and Layer-2 solutions and increasing transaction throughput.
BitMart's next move involves developing a cryptocurrency ecosystem in parallel with the traditional, or legacy, financial world. This includes expanding the derivatives market and consolidating better and smoother full fiat-to-crypto and crypto-to-fiat cycles. BitMart's investment arm, which has a war chest of over $50MM, will continue to invest and support the growth of the cryptocurrency ecosystem. Their venture team recently made numerous strategic investments across key sectors of the industry, such as metaverse, infrastructure, GameFi, and DeFi. Partnering with industry leaders and crypto enthusiasts, BitMart will remain a pioneer in the industry as it works to create and oversee the rise of the multidimensional crypto world.
BitMart will also continue to enhance the platform's infrastructure development, continue investment in new assets, speed international expansion and boost full compliance efforts in the US. In regards to current guidelines, Sheldon, the founder and CEO at BitMart, says, "The US is the country with the most regulated framework of the blockchain industry. We have been actively embracing the regulatory regime. Also, the series B fundraising helps BitMart seek more strategic resources and look for leading and professional strategic partners."
BitMart Exchange is a premier global digital asset trading platform with over 9 million users worldwide and ranked among the top 15 crypto exchanges on CoinGecko. BitMart has a global professional team with rich industry experience and solid education background. With its offices distributed in New York, Singapore, Hong Kong, and Seoul, the BitMart team includes technical experts from Silicon Valley and highly skilled compliance professionals.
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