VALR operates a digital-asset trading platform that lets customers buy, sell, store and transfer Bitcoin plus a wide selection of other cryptocurrencies (it offers Bitcoin and 60 other tokens). The company touts the widest selection of digital assets in Africa and competes on low fees. Since its 2019 launch it has processed over $7.5 billion in trading volume and serves more than 250,000 retail customers and 500 institutional clients worldwide. VALR is expanding product and service offerings to its global customer base and is hiring extensively across all areas of the team. The firm plans to expand across Africa and into other emerging markets such as India and to onboard more institutions from the traditional financial system. The company was valued at $240 million following its latest round. VALR operates a trading platform that, at launch, will support about 50 cryptocurrencies and offer crypto-to-crypto trading with liquidity provided via a backend partnership with Bittrex. The exchange opened a closed beta and has about 1,500 users—predominantly South Africans—on its waiting list who have started activating accounts. VALR plans to launch to the public on March 1 and is working to activate fiat on-ramps with South African banks by summertime. Its know‑your‑customer identity checks accommodate traders from most countries, positioning the platform for regional expansion across Africa. CEO and co‑founder Farzam Ehsani has prior experience leading a blockchain initiative at Rand Merchant Bank and chairing the South African Financial Blockchain Consortium, which the team says could help bridge banks and the global crypto economy. The company is positioning itself as a regional hub to lower remittance costs and expand bitcoin access across neighboring countries that peg to the rand.

Total raised

$52M

Funding rounds

2

Latest round

Series B

Latest activity

Mar 2022