{"id":62723,"date":"2022-03-03T09:02:12","date_gmt":"2022-03-03T09:02:12","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=62723"},"modified":"2022-03-03T09:02:12","modified_gmt":"2022-03-03T09:02:12","slug":"south-african-crypto-exchange-valr-raises-50-million-in-series-b-funding-round","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=62723","title":{"rendered":"South African Crypto Exchange Valr Raises $50 Million in Series B Funding Round"},"content":{"rendered":"

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South African cryptocurrency exchange Valr announced recently that it has raised $50 million in a Series B round led by Pantera Capital. The capital raise means Valr is now valued at a reported $240 million. <\/strong>\n<\/p>\n

Funds Raised to Finance Valr\u2019s Expansion Into Other Markets<\/h2>\n

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\nThe South African cryptocurrency exchange, Valr, recently announced that it raised $50 million in a Series B funding round. The round was led by Pantera Capital, while Alameda Research, Cadenza, CMT Digital, Coinbase Ventures, Distributed Global, GSR and Third Prime also took part.<\/p>\n

According to a report<\/a> by Globalcryptotv, the cryptocurrency exchange\u2019s latest capital raise dwarfs the $3.4 million that it raised in July 2020 and places Valr\u2019s value at $240 million. The report added that Valr, which entered the South African crypto market more than three years ago, will use the capital raised to fund the platform\u2019s expansion into other markets across Africa and into emerging markets such as India.\n<\/p>\n<\/p>\n

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\nRemarking on the exchange\u2019s latest capital raise, CEO Farzam Ehsani is quoted in the report explaining how the funds enable his company to serve more clients. He said:\n<\/p>\n

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We already help Valr\u2019s customers enter this new world of crypto from the traditional financial system using their USD or ZAR and I\u2019m very excited that this round of funding will allow us to serve so many more across Africa and the world.<\/p>\n<\/blockquote>\n

Africa\u2019s Bright Future<\/h2>\n

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\nMeanwhile, Paul Veradittakit, a partner at Pantera Capital, said his organization believed that \u201cAfrica\u2019s future is bright for the adoption of cryptocurrencies for both asset diversification and payments.\u201d<\/p>\n

Besides using the raised capital to fund its entry into other markets, Valr, according to the report, is also planning to bring more products and services to its growing base of global customers. It is also recruiting across all areas of its team, the report added.<\/p>\n

What are your thoughts on this story? Tell us what you think in the comments section below.<\/strong><\/em><\/p>\n

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South African cryptocurrency exchange Valr announced recently that it has raised $50 million in a Series B round led by Pantera Capital. The capital raise means Valr is now valued at a reported $240 million. Funds Raised to Finance Valr\u2019s Expansion Into Other Markets The South African cryptocurrency exchange, Valr, recently announced that it raised […]<\/p>\n","protected":false},"author":2,"featured_media":62724,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-62723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/62723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62723"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/62723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/62724"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}