Copper Plans Expansion with Funding Round
Posted by Colin Lambert. Last updated: May 19, 2021
Digital assets infrastructure provider Copper has closed a Series B $50 million funding round – the firm says it plans to use the funds to broaden its international footprint, particularly across the US and Asia, and says it has plans to open at least two new regional offices.
The firm adds it will also announce key “high-profile” hires across its strategy, operations, and business development departments, leading to a tripling of headcount by the end of 2021. “Significant” investment will also be made to further develop Copper’s product suite.
“Copper has achieved tremendous growth over the past 12 months,” says Dmitry Tokarev, CEO of Copper. “I am incredibly grateful to our talented and growing team whose hard work is reflected, in part, by this highly successful funding round. I would also like to express my thanks to our investors who continue to support Copper and our ambitious plans to expand across the globe, and cement ClearLoop as the go-to for the clearing and custody of digital assets. Their backing, and continued support from our strong client base, is a testament to the quality of the business we are building.
“It is no secret that interest in owning digital assets has grown exponentially, evident from the influx of institutional investors in bitcoin, as well as other layer one protocols like Ethereum and Ripple. As Copper enters its next phase of growth, we will continue to react to the market and provide the services that investors need; to elevate the standards of digital asset security, trading and clearing across the board.”