Crypto individual retirement account (IRA) software platform iTrustCapital has raised $125 million in Series A funding with a post-money valuation of over $1.3 billion, according to a press release provided to CoinDesk. The round was led by growth equity firm Left Lane Capital. As part of the investment, Left Lane Principal Matthew Miller will join the iTrustCapital board of directors.
- The proceeds will help ITrustCapital expand its products and services, scale its client services and development teams, launch new marketing channels and explore potential strategic acquisitions.
- The iTrustCapital platform allows qualified U.S.-based investors to transact in cryptocurrencies while maintaining the tax advantages of an IRA. The platform currently provides access to 25 cryptocurrencies alongside physical gold and silver.
- The software company is exploring new features for the platform, including crypto staking services and the ability to participate in governance activities through governance tokens such as Uniswap, Compound, MakerDAO, Sushi, Polkadot and more.
- ITrustCapital currently has about 27,000 funded accounts and aims to add another 180,000 to 200,000 in 2022, CEO Todd Southwick told CoinDesk in an interview.
- Founded in 2018 in Long Beach, Calif., iTrustCapital said it has grown from $2 billion in total transaction volume to more than $4.5 billion in the last six months.
- “ITrustCapital serves clients that seek long-term, tax-advantaged exposure to cryptocurrency as an asset class – a formidable and fast-growing market opportunity that traditional financial institutions have not fully addressed,” said Left Lane’s Miller in the press release.
Read more: Should You Invest in Bitcoin for Retirement?
The post Crypto IRA Platform iTrustCapital Raises $125M at $1.3B Valuation appeared first on Bitcoin News Miner.
- 000
- 2022
- About
- access
- According
- Account
- acquisitions
- activities
- advantages
- asset
- Billion
- Bitcoin
- board
- board of directors
- capital
- ceo
- channels
- Coindesk
- company
- Compound
- crypto
- cryptocurrencies
- cryptocurrency
- Development
- equity
- Expand
- Features
- financial
- Financial institutions
- Firm
- First
- funded
- funding
- Gold
- governance
- Growth
- help
- HTTPS
- Including
- institutions
- Interview
- investment
- Investors
- IT
- join
- launch
- Led
- Long
- MakerDao
- Market
- Marketing
- million
- months
- New Features
- news
- Opportunity
- participate
- physical
- platform
- Polkadot
- press
- Press Release
- Principal
- Products
- provides
- raises
- round
- Said
- Scale
- Series
- Series A
- Services
- Silver
- SIX
- Software
- Staking
- Strategic
- tax
- Through
- Tokens
- traditional
- transaction
- Uniswap
- Valuation
- volume
More from BitcoinNewsMiner
Financial Guru Dave Ramsey Advises Whether One Should Invest in Bitcoin, Other Cryptocurrencies
Source Node: 887890
Time Stamp: May 30, 2021
Depends on Who You Ask: Report Shows NFT Sales ‘Cool Off,’ Another Study Says ‘Market Set to Double by October’
Source Node: 873538
Time Stamp: May 21, 2021
Bitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages
Source Node: 1017417
Time Stamp: Aug 7, 2021
Italy’s Financial Watchdog Raises Concerns Over Unregulated Cryptocurrency Market
Source Node: 923444
Time Stamp: Jun 15, 2021
TA: Ethereum Topside Bias Vulnerable If It Struggles Below $3K
Source Node: 1084045
Time Stamp: Sep 22, 2021
Canada’s ‘Mad Max’ Supports Bitcoin — Says ‘I Hate How Central Banks Are Destroying Our Money and Economy’
Source Node: 1078156
Time Stamp: Sep 16, 2021
CoinEx Security Team: The Security Risks of THORChain (RUNE)
Source Node: 1266144
Time Stamp: Apr 16, 2022
Users Criticize Uniswap’s Decision to Remove Over 100 Tokens From Main Interface
Source Node: 992016
Time Stamp: Jul 24, 2021
Thailand Sees Rising Adoption of Cryptocurrencies as Means of Payment — Warns of Risks
Source Node: 972743
Time Stamp: Jul 10, 2021
Polychain Leads $6.85M Investment in ‘Curate-to-Earn’ Project
Source Node: 1204922
Time Stamp: Mar 8, 2022
Nike and Hermès File Lawsuits for Trademark Infringement as Fashion Collides With NFTs
Source Node: 1168153
Time Stamp: Feb 8, 2022