Archax secures £25m Series A funding led by abrdn
The funding round was led by abrdn with participation from international backers.
Archax is a regulated digital asset exchange, brokerage and custodian based in London. It allows institutional investors to trade and custody digital and traditional securities.
Archax has closed a £25m Series A funding round led by abrdn. The financing attracted participation from several other backers, including Bitrock Capital, Blockchain Coinvestors, CE Innovation Capital, Keiretsu Capital, Lingfeng Capital, Mathrix AG, SGH Capital and The Tezos Foundation. The capital will support the company as it scales up its operations and prepares for official launch.
The firm operates as the UK provider for trading and custody of both digital and traditional securities under Financial Conduct Authority regulation. Despite testing market conditions, the business secured the investment to further its presence in the digital asset infrastructure sector.
From the founder
"We are extremely pleased to have been able to complete a round of this size during the turbulent crypto and traditional financial market conditions of the last few months. It is also fantastic to have such credible and strategic partner investors involved in the raise too – led by abrdn. We look forward to the next phase of the Archax journey as we scale up for launch and beyond with these partnerships in place."
Graham Rodford
CEO and co-founder at Archax
Investor perspective
"The digital assets ecosystem continues to grow at pace, and Archax’s success in this latest funding round underlines the appetite there is among investors to partner with organisations at the forefront of that shift. As momentum builds, Archax, and abrdn, are well placed to take advantage and meet growing client interest in digital assets that can be accessed through digital exchanges."
Russel Barlow
Global Head of Alternatives, abrdn
Investors
Russel Barlow
abrdn
Alfred Shang
Bitrock Capital
Blockchain Coinvestors
Bingze Gu
CE Innovation Capital
Keiretsu Capital
Lingfeng Capital
Mathrix AG
SGH Capital
The Tezos Foundation