The last 12 months have been a riveting time at METACO. Our company has reached major milestones – forming new exciting partnerships and continued growth in providing infrastructure for financial institutions to securely manage digital assets.
The last 12 months have been a riveting time at METACO. Our company has reached major milestones – forming new exciting partnerships and continued growth in providing infrastructure for financial institutions to securely manage digital assets.
Today, we enter the next pivotal period in our global expansion. We have successfully raised $17 million in our Series A funding round this July. In a turbulent economic climate, we are proud to have an oversubscribed round, with double the demand of our initial target. This round represents continued support from existing investors combined with significant interest from new strategic partners in security technology, central bank infrastructure, Swiss and global banks, and venture firms focused on financial technology.
Giesecke+Devrient, the German-based security technology company and one of the main central bank infrastructure partners, led the round. Standard Chartered Bank, Zürcher Kantonalbank, and venture capital firm Investiere joined the round, which also saw all existing strategic shareholders, Swisscom, SICPA, Avaloq Ventures, and Swiss Post increase their commitments.
Our ability to expand notable Swiss strategic partnerships to new global partnerships in this round, is a significant endorsement of our growth internationally, as well as a demonstration of rising institutional interest in digital assets.
Our ability to expand notable Swiss strategic partnerships to new global partnerships in this round, is a significant endorsement of our growth internationally, as well as a demonstration of rising institutional interest in digital assets.
Launched in 2018, our institutional operating system for digital assets, SILO, enables large financial institutions to securely integrate cryptocurrencies, tokens, and distributed ledger use cases into their core infrastructure. Its unique framework for digital asset custody, transaction management, trading, and tokenization has made it the leading choice for banks and exchanges. METACO has significant Tier 1 and Tier 2 bank implementations including FINMA, BaFin, Banco de España, ECB, and MAS regulated banks and exchanges.
Commenting on the raise, Adrien Treccani, CEO and Founder of METACO, said,
“I am really proud of our team and this funding round will push us to new heights. METACO not only secured an impressive round of funding, but also has a number of significant partnerships and integrations coming down the pipeline. I look forward to working with our new shareholders and encourage companies to get in touch to explore possible synergies.”
The Series A funding will fuel the next phase in our growth in sales, product, and partnerships. We will be broadening our presence in the US, South East Asia, and Western Europe. Research and development are at the core of our business strategy, so we will increase investment in R&D to cement our position as the leader in digital asset infrastructure. We will also be expanding our product and addressable market with the launch of a fully managed, secure, and cloud-based offering, SILO, that will open up the solution to the entire institutional market.
Assaf Shamia, Investment Director at Giesecke+Devrient, said,
“The tokenization narrative is gaining momentum among regulators and central banks, encompassing a broad spectrum of promising innovations ranging from digital currencies to national identities. Yet tokenized assets require a trusted, secure, and scalable solution to handle the safeguarding of private keys. Following extensive market research, we identified METACO as the dominant player in its field. This large funding round, completed during a period of notable market uncertainty, is a significant milestone for METACO and will allow the company to accelerate its global growth and anchor its position as a category leader in the crypto-custody market.”
Alex Manson, Global Head of SC Ventures, the innovation, fintech investment and venture arm of Standard Chartered, added,
“We believe that digital assets are here to stay as an asset class. However, the infrastructure is still very nascent. We are developing a venture to meet the demands of institutional investors for an end-to-end institutional grade custodian of digital assets, which meets regulatory standards. We are pleased to partner and invest in METACO, as a leading provider of security-critical digital asset infrastructure, which will provide both ease of use and uncompromising security.”
This round represents the next important step in realizing our vision, ensuring that we continue to make progress in our mission to transform the financial services industry.
Source: PR Newswire
