Celsius Network Series B Expands to $750M
The crypto lender said in October that the $400 million it raised then would reassure regulators of the credibility of its businesses.
Nov 25, 2021 at 5:24 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SOYWOMM6NNDBRLZRVYXO3AZ4D4.jpg)
Celsius CEO Alex Mashinsky (CoinDesk Archives)
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Celsius Network’s Series B was expanded to $750 million, up from $400 million at a $3.25 billion valuation announced in October.
- The news was first reported by Blockworks late on Nov. 24. The crypto lender’s CEO, Alex Mashinsky, and the company’s official account both tweeted the story, while the Celsius team confirmed the story to CoinDesk in a message.
- Celsius closed a $400 million Series B in October led by growth equity firm WestCap, and Caisse de dépôt et placement du Québec (CDPQ), bringing its valuation to $3 billion. The company at the time stressed that the round would boost their credibility with regulators.
- The lender has been targeted by regulators in Alabama, Kentucky, New Jersey and Texas over alleged securities laws violations.
UPDATE (Nov. 25, 05:23 UTC): Clarifies that valuation was in October in first paragraph.
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Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.
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