According to the analysis platform Dealroom, cryptocurrency investments in Europe in the fourth quarter of 2021 reached a record 793 million euros (approximately $ 925 million).
The fourth quarter exceeds the first quarter of 2021
Dealroom revealed that investments in cryptocurrency and DeFi businesses in Europe broke previous quarterly records just three weeks after the fourth quarter. The first quarter of 2021 was the previous record holder, with European crypto firms making investments of € 715 million (about $ 834 million) using 25 transactions.
However, large fundraisers shut down by crypto and blockchain companies like MoonPay, Celsius Network, Elliptic, and more in Q4 contributed significantly to the latest record numbers with just six transactions. Analysts believe that if the current pace of fundraising continues through the end of the year, fourth-quarter investments could further expand the record margin.
One of the key investments to contribute to the record fourth quarter figures is the funding raised for crypto payment startup MoonPay. The company offers credit card users an easy way to buy crypto or other digital assets in markets like OpenSea, Bitcoin.com, Abra, ZenGo, Spot, and Trust Wallet, all using their credit cards. With more than 5 million users and more than 80 digital assets compatible with the MoonPay platform, the company completed its first roundtable in early October 2021. The roundtable, co-chaired by Tiger Global Management and Coatue Management, raised a total of $ 400 million, with a valuation of $ 3.4 billion.
Investments in the Celsius network
The Celsius Network fundraiser also raised $ 400 million in investments just a week ago. The network provides a global platform for borrowing and borrowing crypto and recently hosted its fundraising event, co-chaired by private equity firm WestCap and a global investment group, Caisse de dépôt and placement of Quebec (CDPQ). The cycle’s success catapulted the company’s net valuation to a staggering $ 3.25 billion.
Other Fourth Quarter Taxpayers
Additionally, London-based analytics firm Elliptic Blockchain raised $ 60 million in its latest Series C funding round, co-led by VC Evolution Equity Partners and SoftBank Vision Fund 2. Existing investors AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group also supported the cycle.
Finally, Paris-based FinTech companies SheeldMarket and Paladin attracted investments totaling $ 12.6 million in October 2021 and contributed to registering crypto investments in the fourth quarter of 2021.