Sygnum Raises Over $40 Million USD in Fundraising Round

Sygnum's most recent fundraising round brings in over $40 million USD. At the interim conclusion of its most recent investment round, FINTECH firm Sygnum has received over US$40 million, surpassing its original US$35 million goal.

The digital asset banking startup said on Thursday, January 25, that the asset management organization Azimut Holding, listed in Milan, was leading the round, with an interim closing valuation of US$900 million.

The money raised from the most recent financing round will be put toward developing Sygnum's products, like its bank-to-bank platform, which provides services to over 15 banks and financial institutions worldwide, and broadening the company's geographic reach into new regions.

Gerald Goh, the chief executive of Singapore and co-founder of Sygnum, stated that the additional funding will enable the company to expand its range of fully regulated products and services to better assist investors who are increasing their exposure to digital assets.