Led · Equity · Apr 2021

Since 2014, Coinsquare has operated a proprietary, secure trading platform for Bitcoin, Ethereum, Litecoin and other digital assets. Its product suite includes Coinsquare Wealth, an OTC desk with institutional-grade liquidity and dedicated account management for qualified individuals and institutions. Coinsquare acts as the trading platform for MogoCrypto, a service Mogo launched in 2018 to let members buy and sell bitcoin. The company says Mogo’s strategic investment will drive platform developments to better serve current clients and widen access to digital-asset investment opportunities for more Canadians. Coinsquare is continuing to work with Canadian regulators toward IIROC membership and regulated marketplace status; its subsidiary, Coinsquare Capital Markets Ltd., filed an application to operate as a marketplace and dealer in November 2020. Coinsquare is a Canadian cryptocurrency exchange that operates a trading platform for digital assets. The company secured $30 million in new equity financing led by Canaccord Genuity. Coinsquare says the funding will support a global growth plan and diversification strategy to make the platform more responsive to mainstream customers. Planned growth includes hiring up to 100 employees in the coming months with a goal of reaching 200 employees by the second quarter. The company is eyeing expansion into the U.S. and U.K. markets and is planning an IPO in Canada in September 2018 on the Toronto Stock Exchange. Product initiatives include launching one new cryptocurrency per month starting in February, investments in cryptocurrency mining, and creating a Trading and Arbitrage division. Coinsquare also plans to create CoinCap Funds to invest across the digital asset landscape. goNumerical-owned Coinsquare is a Toronto-based cryptocurrency platform for buying and selling bitcoin. The company raised a $10.5 million Series A at a $110.5 million post-money valuation led by "a prominent global asset manager" whose name was not immediately available. The article does not name other investors in the round. Riot Blockchain invested in the company in September and said Coinsquare has grown over 300 percent in several different financial metrics. Coinsquare has reported profitable operations. John O'Rourke, chairman and CEO of Riot Blockchain, praised the investment as a sign of confidence in Coinsquare and its CEO's ambitions; BetaKit reached out to Coinsquare for comment.