Copper secures $50m Series B funding co-led by Dawn Capital and Target Global
The oversubscribed Series B round was co-led by Dawn Capital and Target Global.
Copper provides digital asset infrastructure, offering custody, prime brokerage, and settlement solutions for institutional crypto investors. The company connects major cryptocurrency exchanges through proprietary technology to secure trading loops.
London-based digital asset infrastructure provider Copper has raised $50m in a Series B funding round. The investment was co-led by Dawn Capital and Target Global, with participation from Illuminate Financial Management, LocalGlobe, and MMC Ventures, alongside a selection of strategic angel investors. The proceeds will be directed towards international expansion, particularly in the US and Asia, key executive hires, and further development of the company product suite. This latest financing follows a Series A round in February 2020 and brings the total capital raised by the firm to $60m.
From the founder
"Copper has achieved tremendous growth over the past 12 months. I am incredibly grateful to our talented and growing team whose hard work is reflected, in part, by this highly successful funding round. I would also like to express my thanks to our investors who continue to support Copper and our ambitious plans to expand across the globe, and cement ClearLoop as the go-to for the clearing and custody of digital assets. Their backing, and continued support from our strong client base, is a testament to the quality of the business we are building."
Dmitry Tokarev
CEO at Copper
Investor perspective
"With the proliferation of institutional investment in digital assets over the last few years, we had been tracking Copper since its entry to the market just three years ago. It is rare to find a team that so expertly understands not only traditional asset management, but that of digital assets and how to marry the two worlds to provide institutional-grade infrastructure that truly meets investors’ requirements. So, we are delighted to be supporting Dmitry and the Copper team in their next phase of growth, and believe they are perfectly placed to deliver the new industry-standard in digital asset custody and clearing globally."
Josh Bell
General Partner, Dawn Capital
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
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About the company
Copper
Copper provides digital asset infrastructure for institutional cryptocurrency investors.