Miguel Cordon · · 1 min readHong Kong’s XanPool hits $400m valuation after raising $41m in 2022
Hong Kong-based XanPool, a fiat-to-crypto platform, has raised a total of US$41 million this year, giving it a valuation of US$400 million, Forbes reported.
The company secured US$35 million of the amount from UK-based Target Global, with the remaining coming from existing investor Antler Elevate.
XanPool plans to use the new capital to fuel its expansion into Europe, North Africa, Latin America, and the Middle East. The company will also invest in a new research and development hub in Thailand and move most of its remote staff to the Southeast Asian country.
Jeffery Liu, CEO of XanPool, founded the company in 2019 alongside Artem Ibragimov, who serves as its CTO. The firm has since grown to have over 2 million users, and it has partnered with crypto companies such as Binance, Bitcoin.com, and Bybit.
The company last raised funds in October 2021, bagging US$27 million in a series A round led by Valar Ventures and joined by Wise co-founder Taavet Hinrikus, among others.
See also: Series SEA: Who’s investing in the region’s fintech startups?
Editing by Lorenzo Kyle Subido
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