top of page

Sygnum Secures $40M Funding, Eyes Expansion in Europe, Asia

Sygnum's successful fundraising and strategic expansion plans reflect the growing integration of cryptocurrency into mainstream finance.

Sygnum has secured a $40 million expansion funding.
Credit: Unsplash

ZURICH, CH – Swiss-based Sygnum has successfully closed a $40 million funding round, elevating the firm's valuation to an impressive $900 million, according to a Thursday press release. The achievement comes amidst challenging market conditions, underscoring the robust confidence investors have in the future of crypto banking.

Mathias Imbach, Sygnum’s co-founder and CEO, expressed his enthusiasm and gratitude in a recent press release. “Closing a successful funding round in this macro environment with such strong partners is exciting, and we are thankful for our investors’ trust in us,” Imbach said. He attributes the company's success to its commitment to regulation and good governance, which has consistently guided them through various market cycles.

A New Leader in Crypto Banking

Leading the investment round was Azimut Holdings, a noted investment manager. Sygnum plans to strategically utilize these funds to broaden its reach, targeting new markets in Europe and Asia. This expansion is part of Sygnum's ongoing effort to cement its position as a leading player in the crypto banking industry.

The latest funding round marks a significant increase from January 2022, when Sygnum raised $90 million at an $800 million valuation. Since then, the bank has witnessed substantial growth, with its assets under management soaring to $4 billion and its client base expanding to 1,700 across over 60 countries. The growth trajectory reflects the increasing global interest in cryptocurrency as a legitimate and valuable asset class.

Sygnum to Develop Full Suite of Solutions

Gerald Goh, Sygnum’s co-founder and CEO of its Singapore operations, highlighted the timing of this investment. Goh commented:

“The broader industry is emerging from the ‘crypto winter,’ and investors and market participants are increasingly seeking to partner with trusted and well-managed financial institutions."

He sees the new capital as a catalyst for Sygnum to further develop its suite of fully regulated solutions, catering to investors diversifying into cryptocurrencies.

In April of the previous year, Sygnum played a pivotal role in a $23 million fundraise for, a staking provider. P2P is at the forefront of developing a new intermediary-focused infrastructure platform. This initiative is particularly significant in the wake of Ethereum's Shanghai upgrade, aimed at improving the staking user experience and supporting expansion efforts.


bottom of page