Crypto broker Voyager announces $2.1 million private placement

Startups • June 8, 2020, 5:22PM EDT
UPDATED: June 8, 2020, 5:49PM EDT
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Crypto-asset broker Voyager has announced a private placement of nearly C$2.9 million (roughly $2.1 million), the Canada-listed firm announced today.

The placement involved the sale and distribution of about 14.5 million units, at a price of C$0.2 per unit, with investors including Susquehanna Government Products, LLLP, Streamlined Ventures, LLC and Market Rebellion, LLC, as well as Market Rebellion's co-founders, Jon and Pete Najarian and Dirk Mueller-Ingrand.

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Voyager described the development as a move to speed up its growth.

"With this funding now completed, we will now accelerate the execution of our product roadmap to support our rapid account growth, asset growth, and increased trading activity of our customer base," CEO and co-founder Stephen Ehrlich said in a press announcement on Monday.

Voyager said the proceeds from the private placement would be used for marketing, product development and other corporate purposes. The placement comes months after the firm acquired Circle's Invest app.

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Saniya More (pronounced: Saan-ya Mo-ray) is a quadrilingual journalist at The Block. She got her master’s degree from the Columbia University Graduate School of Journalism and did her undergraduate degree at the S.I. Newhouse School of Public Communications, Syracuse University. Her work has appeared in CBS News, Bangkok Post, Thai Enquirer, Globalists, Byline Times and other publications. When she’s not chasing a story, you will most likely find her biking, tweeting, taking photos or creating Spotify playlists for every occasion.