Exchanges

Voyager Digital Raises $100 Million by Closing Private Placement

Cryptocurrency broker Voyager Digital has announced that it has raised $100 million in a private placement of common shares, with each share being priced at $13.10.

The firm will use the net proceeds from the capital raise, which was led by Stifel GMP, for general corporate purposes.

Stephen Ehrlich, Co-founder and CEO of Voyager, said: “We welcome our new investors to Voyager and are well capitalized to continue to grow our platform exponentially.  This additional capital will allow Voyager to execute on the Company’s growth strategy including new user growth, international expansion and new product introductions. We’re building out our team, scaling our platform, and onboarding new users at record rates.

“We are well on our way to achieving our goals by educating individual investors about creating wealth through cryptocurrencies by offering over 50 digital assets with 22 bearing interest, all on a commission-free and easy to use platform.”

Voyager focuses on institutional clients by offering interest accounts that can net up to 9.5% APR, according to their website.

Interest across the digital asset industry has exploded over the past six months alongside Bitcoin’s meteoric rise from below $10,000 to $49,000.

This has caused the likes of MicroStrategy and more recently Tesla to invest in the cryptocurrency, with the latter wading in with $1.5 billion last week.

For more news, guides and cryptocurrency analysis, click here.

Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.

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