According to the analytics platform, Dealroom, the crypto investments in Europe in Q4 of 2021 have reached a record-breaking high of €793 million (roughly $925 million).
Q4 Overtakes Q1 of 2021
Dealroom revealed that investments in crypto and DeFi businesses in Europe had overtaken the previous quarterly records just within three weeks of the fourth quarter. Q1 of 2021 was the previous record-holder as European crypto firms brought in investments of €715 million (roughly $834 million) with the help of 25 deals.
However, the massive fundraising rounds closed by crypto and blockchain firms like MoonPay, Celsius Network, Elliptic, and more, in the fourth quarter have contributed significantly to the latest record-breaking numbers with only six deals. Analysts believe that if the current fundraising pace continues till the end of the year, the Q4 investments could widen the margin of record even further.
The MoonPay Investments
One of the major investments to contribute to the fourth quarter’s record-breaking numbers is the funding raised for crypto payment startup MoonPay. The company provides credit card users with an easy mode of purchasing crypto or other digital assets on marketplaces like OpenSea, Bitcoin.com, Abra, ZenGo, Spot, and Trust Wallet, all using their credit cards. With over 5 million users and more than 80 digital assets supported on the MoonPay platform, the company conducted its first funding round in early October 2021. The funding round, which was co-led by Tiger Global Management and Coatue Management, raised a total of $400 million, with a $3.4 billion valuation.
The Celsius Network Investments
The fundraising by Celsius Network also raked in $400 million worth of investments just a week ago. The network provides a global platform for crypto earning and borrowing and has recently held its fundraising round, co-led by a growth equity firm, WestCap, and a global investment group, Caisse de dépôt et placement du Québec (CDPQ). The success of the round catapulted the company’s net valuation to a whopping $3.25 billion.
Other Contributors For Q4
Additionally, $60 million were also raised by London-based, Blockchain analytics firm Elliptic in their latest Series C funding round, which was co-led by VC firm Evolution Equity Partners and SoftBank Vision Fund 2. Existing investors AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire, and Paladin Capital Group also backed the round.
Finally, Paris-based FinTech companies SheeldMarket and Paladin, both drew in investments worth a total of $12.6 million in October 2021 and contributed to the record highs of crypto investments in Q4 2021.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
