Crypto Bank Sygnum Soars to Unicorn Status with $58M Funding Round

Sygnum, a pioneering crypto bank based in Switzerland and Singapore, has reached a significant milestone in its journey, securing $58 million in an oversubscribed strategic growth funding round. This achievement has propelled the company's valuation past the $1 billion mark, earning it the prestigious unicorn status in the global digital asset banking sector.



The cornerstone investor for the round's final close was Fulgur Ventures, a venture capital firm with a focus on Bitcoin technologies. Joined by new and existing strategic and financial investors, as well as Sygnum team members, the funding round has bolstered the company's robust balance sheet and CET1 capital, supporting its future growth plans.

Sygnum's multi-year core business growth has been a key driver of the oversubscribed Strategic Growth Round. In 2024, the company's revenues for all trading products, including crypto spot, derivatives, FX, and traditional securities, surpassed the previous year's total in Q3. Additionally, the company's annual trade volumes increased by more than 1,000% year-over-year, propelled by partnerships with PostFinance and more than 20 banks on its B2B platform, which provides regulated crypto services to more than a third of the Swiss population.



Sygnum's industry-shaping product launches have also contributed to its success. In July 2024, the company launched Sygnum Connect, a 24/7 multi-asset settlement network, with members at launch including digital asset exchange AsiaNext and prime broker Hidden Road. A few months earlier, Sygnum also opened up a second new platform, Sygnum Protect, exclusively to its global institutional client base. This platform enables them to continue trading on major crypto exchanges while holding their flexible choice of collateral in secure, bank-grade and bankruptcy-remote custody with Sygnum.

Mathias Imbach, Sygnum Co-Founder and Group CEO, commented on the company's unicorn status: "Sygnum reaching Unicorn status is a strong validation by the market of our business model, strategy and team. While it is an achievement we are very proud of, it won't alter the values of integrity and humility, and the importance of displaying confidence without attitude at all times, which have acted as our true-north since day one."

Gerald Goh, Co-Founder and CEO APAC, added: "The successful completion of our Strategic Growth Round is proof of Sygnum's strong and unique position as a leading regulated financial institution in the global digital asset industry. Offering trusted institutional infrastructure and regulated services for digital assets will continue to be the foundation for Sygnum's future growth strategy."

Oleg Mikhalsky, Partner of Fulgur Ventures, said: "Fulgur is a venture capital firm that continues to drive investment into the accelerating convergence of Bitcoin and institutional financial markets. Sygnum's market-tested infrastructure, digital asset-native team and global ecosystem makes them the ideal partner to co-develop innovative Bitcoin-related financial products and technologies – as well as for future collaborations with other Fulgur portfolio companies. We are proud to be the cornerstone investor for the final close of Sygnum's Strategic Growth Round, which coincides with a potential inflection point for Bitcoin's institutional adoption and regulatory clarity."

In FY 2024, Sygnum achieved operational profitability and continued to grow its 2,000-strong institutional client base domiciled in over 70 countries, serviced through its regulated operations in Switzerland, Singapore, Abu Dhabi, Luxembourg, and Liechtenstein.

With the new funding, Sygnum plans to drive multi-region market entry, expand its product portfolio with a focus on Bitcoin technology, enable strategic acquisitions, and further strengthen its organisational resilience. The company is well-positioned to capitalize on the growing demand for digital asset services and continue its success in the global digital asset industry.