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.
Watch the presentation now to learn more about the Voyager app: https://t.co/7aAl0B79vu
— Voyager (@investvoyager) February 11, 2021
“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.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.