Today Paxos announced it raised $142 million in its Series C funding round, bringing its total to $240 million. The firm has a mixed bag of blockchain solutions. On the one hand it has a blockchain equity settlement service being used by Societe Generale, Credit Suisse and Instinet. On the other hand, it provides its Paxos stablecoin as well as cryptocurrency brokerage services to the likes of PayPal and Revolut.
The funding was led by Declaration Partners, which is backed by the family office of David M. Rubenstein, the co-founder and co-chairman of private equity firm the Carlyle Group. Other investors included Mithril Capital, PayPal Ventures, RIT Capital Partners plc, Ken Moelis, Alua Capital, Senator Investment Group. Existing investors include RRE Ventures and Liberty City Ventures.
“In the last year, global adoption of crypto and blockchain-based solutions by enterprises has accelerated,” said Charles Cascarilla, CEO and Co-Founder of Paxos. “We are proud to count among our clients global leaders in payments, banking, trading and fintech, such as PayPal, Credit Suisse, Societe Generale and Revolut.”
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