Citigroup and Wells Fargo Invested $105 Million in Talos Crypto Trading Platform

Crypto trading infrastructure provider Talos has raised $105 million in a Series B funding round. The startup's valuation reached $1.25 billion.

The round was led by General Atlantic. Among the participants: Wells Fargo Strategic Capital, Citigroup, BNY Mellon, DRW, SCB 10x, Stripes, Voyager and others. All of them invested in Talos for the first time .

The startup was also supported by existing investors, including Andreessen Horowitz (a16z), PayPal Ventures, Castle Island Ventures and Fidelity Investments.

Talos provides direct access to the cryptocurrency market, price monitoring, reporting, clearing and other services for institutional clients.

"This round is an important turning point for the industry. We have been hearing for a long time: “The institutionals are coming.” Now they are here, and we are proud to be a crypto trading platform for leading institutions," said Anton Katz, co—founder and CEO of the company.

The firm was founded in 2018 in New York and has offices around the world. The startup will use the funds raised to expand its business in Europe and the Asia-Pacific region (APR).

"We have been growing organically in these regions, but now we want to scale coverage with an expansion strategy," said Samar Sen, Talos Director for Asia—Pacific.

To this end, the company will also increase the current headcount by approximately 80 employees.

Currently, Talos provides trading through centralized platforms. The firm is exploring the possibility of supporting DeFi-sector platforms, Sen said.

Recall that in May 2021, the startup closed a Series A funding round in the amount of $ 40 million, which was headed by a16z.