21.co Raises $25 Million

September 7, 2022 - 21.co, a provider of crypto access announced a $25 million round led by Alternative Investments house Marshall Wace.

This round, the first in 2 years, values the business up to $2 billion, making 21.co Switzerland's largest crypto unicorn.

With this round of financing, 21.co will continue to drive growth through product, market expansions and talent acquisitions.

Other investors in the round include crypto-focused venture fund Collab+Currency, Quiet Ventures, ETF and Fintec investors ETFS Capital and growth investment firm Valor Equity Partners.

In addition to funding, the company also announced its new parent company, 21.co.

21.co is a collection of companies, the largest of which is 21Shares, an issuer of cryptocurrency exchange traded products which is powered by Onyx, a technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties in addition to Amun, a token provider focused on making the DeFi world more accessible.

"My co-founder, Ophelia, and I set out with a simple mission to make crypto more accessible," said Hany Rashwan, CEO and Co-Founder at 21.co. "Now, we're the highest valued and largest tech startup in Switzerland – and we're still only in the early days. 21.co remains committed to building innovative products that meet investor demand as this asset class continues to gain rapid momentum."

"The success 21.co has experienced over the past four years is truly amazing," said Ophelia Snyder, President and Co-Founder at 21.co. "We have built an incredibly diverse team, with some of the brightest minds in crypto and brought on best-in class investors. Our drive to revolutionize the world of crypto and build bridges into the asset class is only just getting started."

"At Marshall Wace, our culture is built around innovation – and we saw an immediate alignment of values when meeting with the team at 21.co. 21co is a first-mover in the crypto industry: the company is focused on growth, and committed to bringing new and innovative products to investors across markets – in a secure, accessible way," said Amit Rajpal, Partner and CEO Asia at Marshall Wace. "Even in the midst of crypto winter, MW believes that 21.co has the potential to revolutionize the industry globally and we're looking forward to working alongside the team."

"When I first met the team at 21.co, I understood their long-term vision and truly believed the company would transform the crypto ecosystem," said Cathie Wood, Founder, CEO and CIO of ARK Investment Management LLC, and an independent board member of 21.co. "This round is a testament to 21.co's early success and its ability to thrive in both bull and bear markets. I'm proud to be a part of the 21.co growth story."

21.co’s raise follows a year of significant growth and product innovation for the company. Most notably, 21Shares:

  • Launched innovative products, like the world’s first USD Yield ETP and the world’s first Bitcoin and Gold ETP on SIX Swiss Exchange   • Released the first crypto ETFs in Australia   • Published the sixth issue of its State of Crypto Report, which explores current trends in the crypto industry and what investors are doing to successfully optimize their crypto portfolios.   • Launched its Crypto Winter Suite, which includes products like the world’s cheapest Bitcoin ETP, 21Shares’ Bitcoin Core ETP, and the S&P Risk Controlled Bitcoin and Ethereum Index ETPs

21.co provides access to crypto through simple and easy to use products. 21.co is the parent company of 21Shares, the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties – in addition to Amun, a token provider focused on making the DeFi world more accessible. The company was founded in 2018 by Hany Rashwan and Ophelia Snyder. 21.co is registered in Zug, Switzerland with offices in Zurich and New York. For more information, please visit www.21.co.