Less than three weeks in, quarterly investment in European crypto companies hits new highs

Oct 19, 2021 | The Block News | 0 comments

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Investment in crypto and DeFi businesses in Europe has already surpassed quarterly records, just a few weeks into the fourth quarter.

Data from startup analytics platform Dealroom puts fourth quarter investment in crypto businesses in Europe and the United Kingdom at €793 million (roughly $925 million).

The bulk of that total comes from massive fundraises closed by payments firm MoonPay and crypto lender Celsius Network, which have each secured $400 million in the past few weeks. Elliptic, the blockchain analytics platform, announced a $60 million raise on October 11.

The previous investment record came in the first quarter of 2021, when Europe’s crypto firms drew in €715 million (roughly $834 million), according to Dealroom’s records. In that quarter, 25 deals were completed.

After nearly three weeks and with only six investments closed in the fourth quarter, a new high water mark has already been set.

The margin of record could be wide indeed if the pace of fundraising by Europe’s crypto firms continues in the final months of the year. The Block is aware of at least one other major fundraising effort by a European crypto firm, but the process is ongoing and details of the investment are as yet unclear.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

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