Celsius Network secures £24.3m Series A funding led by Tether to expand global services.
Tether led the Series A investment to help the blockchain platform scale its community and institutional offerings.
Celsius Network is a blockchain-based platform offering interest-bearing accounts and low-cost loans to consumers worldwide. The company operates on a membership model designed to put depositor interests first.
Celsius Network has secured £24.3m in a Series A equity round led by Tether. The funding values the business at £97.2m pre-money and follows the recent launch of a retail fundraising campaign through BnkToTheFuture.
The company intends to allocate the capital towards community growth and the expansion of its institutional services globally. Celsius recently reported over 115,000 active wallet accounts and substantial figures in originated coin loans and managed assets.
From the founder
"The crypto community has only a few great projects and we are excited by the investment from Tether International as it will help us deliver [American dollar-based] services to all our users,"
Alex Mashinsky
CEO at Celsius Network
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Celsius Network
Celsius Network provides interest-earning accounts and low-cost loans through a mobile application.