VALR Closed $50 Million Series B Financing at $240 Million Valuation Led by Pantera Capital

TokenInsight news, VALR, a crypto exchange in South Africa, closed a $50 million Series B funding round at a valuation of $240 million, led by Pantera Capital with participation from Alameda Research, Coinbase Ventures, Avon Ventures and others. The funds raised will be used to expand across Africa and into other markets such as India. It also plans to onboard traditional finance institutions, like large banks, insurers and hedge funds, to assist in building out the exchange's infrastructure. Previously, VALR closed $3.4 million in Series A funding in July 2020 and planned to expand into new markets across South Africa and launch services like derivatives trading and lending.