Lingfeng Capital leads CHF 14m series-B for Crypto Finance

Also participating in the round were angel investors and fintech-focused venture capital firm QBN Capital.

Following the round, Lingfeng partner Ming Shu will be proposed as a new member of the board of directors at the annual general assembly.

The company mandated PwC to seek new investors for the round, according to a statement.

Unquote sister publication Mergermarket reported in October 2019 that Crypto was seeking to raise a round of CHF 15-20m. The company planned to use fresh capital from the round to increase its headcount, hiring sales staff, developers, management and operational staff.

Previous funding
Angel investors invested CHF 1.5m in Crypto in its first round in October 2017, as well as in a series-A round in December 2017 totalling CHF 17.4m. The company raised CHF 3.2m in a subsequent round one year later.

Company
Founded in 2017, Crypto provides an asset management, brokerage and storage platform for cryptocurrency trading. The business comprises three subsidiaries: Crypto Fund, Crypto Broker and Crypto Storage. Half of the company's business comes from international clients beyond Switzerland, according to a statement. It has more than 150 brokerage clients and 10 storage clients, according to Mergermarket.

Based in Zug, Crypto also has offices in Zurich, London and Hong Kong. It has 40 employees, according to LinkedIn. The company expected revenues of CHF 5m in 2019 and plans for its revenues to grow by 200-400% in 2020, according to the same report from Mergermarket.

People
Crypto Finance – Jan Brzezek (CEO, co-founder).
Lingfeng Capital – Ming Shu (partner).
QBN Capital – Frank Tong (partner).

Advisers
Company – PwC (corporate finance).

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