Cryptocurrency trading platform Elwood Technologies founded by British hedge fund billionaire Alan Howard has raised $70 million in funding. The round was co-led by B2B investor Dawn Capital and Goldman Sachs, with participation from Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures. The present financing valued the six-year-old company at over $500 million.
Aimed to meet the needs of institutions seeking exposure to digital assets, the British digital asset platform’s end-to-end platform provides low-latency connectivity to global crypto exchanges and deep liquidity via one single API.
James Stickland, CEO, Elwood Technologies, said: “The rich mix of investors participating in this raise reaffirms the movement of financial institutions working closely with their native digital asset technology providers. Together, we aim to provide broader mass market involvement in digital assets and cryptocurrency. We look forward to working with our investors to further enhance our offerings and broaden their market adoption.”
Mathew McDermott, global head of digital assets, Goldman Sachs, added: “Our investment in Elwood demonstrates our continued commitment to digital assets and we look forward to partnering to expand our capabilities.”