• Latest
  • Trending
  • All
  • Startups
  • Funding
  • Sponsored
VALR

Cryptocurrency Exchange Platform, VALR Secures $3.4 Million

6 months ago
AFIDBA - techbuild

Young African Entrepreneurs? Apply for AFIDBA 2021

39 mins ago
pula

African InsurTech Platform Pula secures $6mn Series A Funding

1 hour ago
Founder Institute
sparkle

Nigeria’s Sparkle partners Network International to power its Payment Card Offering

2 hours ago
tech jobs - techbuild

5 Tech Jobs for African Women Who Don’t Want to Code

4 hours ago
Peer-to-Peer Lending - techbuild

Is Peer to Peer Lending (P2P) worth the Risk?

20 hours ago
Jumia Loan - techbuild

Jumia loan: How to obtain Quick Loan from JumiaPay App

1 day ago
ICT Clinic - techbuild

Data security and the WhatsApp debacle [ICT Clinic]

1 day ago
Making More Health Co-creation Accelerator - techbuild

African Social Entrepreneur? Apply for Making More Health Co-creation Accelerator 2021

2 days ago
Investing in Africa - techbuild

5 Things I’ve learned about Investing in Africa – Tony Chen

3 days ago
U-Report - techbuild

U-Report: Digital Access, Education are key concerns for young Africans

3 days ago
online trading - techbuild

Online Trading: What to look for in a Broker

3 days ago
startups - techbuild

5 Reasons Startups fail in Nigeria

3 days ago
Founder Institute Founder Institute Founder Institute
  • Home
  • About
  • Partners
  • Advertise
  • Contact
  • Signup to receive updates
  • en English
    en Englishfr Frenchar Arabicsw Swahilipt Portuguesede Germanes Spanishzh-CN Chinese (Simplified)
Innovation | Start-ups | Funding | Tech Blog in Africa
Advertisement
  • Home
  • Startups
  • Funding
  • Women Tech
  • Hubs
  • News
  • Interviews
No Result
View All Result
  • Home
  • Startups
  • Funding
  • Women Tech
  • Hubs
  • News
  • Interviews
No Result
View All Result
Innovation | Start-ups | Funding | Tech Blog in Africa
No Result
View All Result
Home Startups Southern Africa

Cryptocurrency Exchange Platform, VALR Secures $3.4 Million

Dare Afolabi by Dare Afolabi
21st July 2020
in Southern Africa
VALR

VALR

VALR today announced it as has secured US$3.4-million to advance cryptocurrency adoption.

The platform is South Africa’s leading cryptocurrency exchange.

100x Group Ventures with participation from US-based company Bittrex, FNB CEO Michael Jordan and 4DiCapital led the Series A equity round of funding.

BITREX
Credit: bitcoinexchangeguide

The cryptocurrency exchange was established in 2018 with the aim of bridging the gap between the world of cryptocurrency and the conventional financial system.

VALR in June 2019 launched bitcoin-rand trading, growing to be one of South Africa’s foremost bitcoin trading exchange platform.

According to VALR, the cryptocurrency exchange has offered the ability to trade in over 50 cryptocurrencies to more than 40, 000 of its customers at the cheapest possible fees in the crypto market.

Farzam Ehsani, Co-founder and CEO commented, “I am very grateful that despite the challenging global COVID-19 pandemic that has adversely affected many businesses around the world.

VALR has been able to grow at a phenomenal pace and we’ve been able to raise funds and partner with a set of world-class investors, adding to our already distinguished group of shareholders,”

The cryptocurrency exchange will use the raised fund to create new products and services while making expansion into other African countries.

VALR 1
Credit: mybroadband.co.za

It also plans to continue building teams of professionals in the technology and client service domains.

Arthur Hayes, Co-founder and CEO, 100x, who led the round funding said:

“South Africa has an incredibly exciting and fast-growing cryptocurrency ecosystem, and we believe VALR is well-placed to capitalise on future growth of bitcoin trading.

In VALR we’re backing not only a successful early-stage business but a management team with the ability to scale operations significantly.”

Justin Stanford, Co-Founding General Partner at 4Di Capital also commented:

“At 4Di we have been looking for appropriate investment in the crypto sector for some years, and we are delighted to be backing such a high-quality business and management team.

VALR has shown great integrity and leadership coupled with impressive growth and delivers a mature, institutional-grade offering to the local market.

This is becoming a necessary component in all markets the world over, as the crypto-asset ecosystem becomes increasingly more accepted and integrated into the global financial system.”

Altogether, VALR has secured $5.8 million to date, with an equity seed fund of around $1.2 million sometime in July 2018.


Featured Image: Farzam Ehsani, Co-founder and CEO, VALR


Don’t miss important articles during the week. Subscribe to cfamedia weekly digest for updates.

Related Posts

Legal Lens - techbuild
Southern Africa

Legal Lens is saving Cost on Legal Fees for South Africans

4 days ago
Umwuga - techbuild
Southern Africa

SA Startup Umwuga offers Free Go-to-platform for hiring Trade/Service Workers

2 weeks ago
Bottles - techbuild
Southern Africa

On-demand Delivery startup, Bottles officially launches with Pick n Pay

1 month ago
My Washbay - techbuild
Southern Africa

My Washbay reinvents Car Wash Service in South Africa

1 month ago

SIGNUP FOR UPDATES

RECENT

  • Young African Entrepreneurs? Apply for AFIDBA 2021
  • African InsurTech Platform Pula secures $6mn Series A Funding
  • Nigeria’s Sparkle partners Network International to power its Payment Card Offering
  • 5 Tech Jobs for African Women Who Don’t Want to Code
  • Is Peer to Peer Lending (P2P) worth the Risk?

PREVIOUS

Join Founder Institute Join Founder Institute Join Founder Institute
ADVERTISEMENT
Innovation | Start-ups | Funding | Tech Blog in Africa

© 2013-2021 techbuild.africa. All Rights Reserved.

  • About
  • Contact
  • Privacy
  • Sitemap
  • Terms of Service

Follow us

No Result
View All Result
  • Home
  • Startups
  • Funding
  • Women Tech
  • Hubs
  • News
  • Interviews

© 2013-2021 techbuild.africa. All Rights Reserved.

en English
en Englishfr Frenchar Arabicsw Swahilipt Portuguesede Germanes Spanishzh-CN Chinese (Simplified)
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.