VALR is a digital asset platform that was launched in 2019 and allows clients to buy, sell, store, and transfer Bitcoin and 60 other cryptocurrencies – the most of any platform in Africa – in a simple and secure manner. Over 250,000 retail users and 500 institutional clients from around the world use it, and it has processed over US$7.5 billion in trading activity.

Pantera Capital led a $50 million Series B fundraising round that was oversubscribed, with participation from Alameda Research, Cadenza, CMT Digital, Coinbase Ventures, Distributed Global, GSR, Third Prime, and Avon Ventures, as well as existing backers Bittrex and 4Di Capital and others.

“Society’s financial tools should unite us, not divide us. That’s why I’m very excited that VALR is helping to build a financial system that recognises the oneness of the human race. There is no longer any room for doubt regarding the impact crypto assets are having on our global financial system,” said Farzam Ehsani, VALR’s CEO and co-founder.

“We already help VALR’s customers enter this new world of crypto from the traditional financial system using their USD or ZAR and I’m very excited that this round of funding will allow us to serve so many more across Africa and the world.” Paul Veradittakit, partner at Pantera Capital, said he was excited to lead the Series B round.

“We believe that Africa’s future is bright for the adoption of cryptocurrencies for both asset diversification and payments,” he said. “VALR brings an amazing product and service to onboard both retail customers and institutions.”