Less than three weeks in, quarterly investment in European crypto companies hits new highs

advertisement

Investment in crypto and DeFi businesses in Europe has already surpassed quarterly records, just a few weeks into the fourth quarter.

Data from startup analytics platform Dealroom puts fourth quarter investment in crypto businesses in Europe and the United Kingdom at €793 million (roughly $925 million).

The bulk of that total comes from massive fundraises closed by payments firm MoonPay and crypto lender Celsius Network, which have each secured $400 million in the past few weeks. Elliptic, the blockchain analytics platform, announced a $60 million raise on October 11.

The previous investment record came in the first quarter of 2021, when Europe’s crypto firms drew in €715 million (roughly $834 million), according to Dealroom's records. In that quarter, 25 deals were completed.

After nearly three weeks and with only six investments closed in the fourth quarter, a new high water mark has already been set.

The margin of record could be wide indeed if the pace of fundraising by Europe’s crypto firms continues in the final months of the year. The Block is aware of at least one other major fundraising effort by a European crypto firm, but the process is ongoing and details of the investment are as yet unclear.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More