PayPal-backed Talos Raises $105M in Series B Round of Funding

• Andreessen Horowitz and PayPal Ventures joined current investors.
• Institutional trading volumes have grown by a factor of 20.

As of 2018, Talos is an infrastructure technology supplier for the cryptocurrency sector, providing services such as trading and settlement. Talos, a cryptocurrency startup backed by PayPal, has been valued at $1.25 billion, making it the newest unicorn in the market. On May 10, General Atlantic, a large global growth equity company, led and allowed Talos to secure $105 million in a Series B financing round.

Global Expansion on the Cards

It will help Talos expand its institutional-grade digital asset platform and speed its growth into Asia-Pacific and Europe with the recently funded cash. Financial institutions from both the conventional and crypto industries participated in the fundraising. These included Stripes, a private equity company run by Ken Fox, BNY Mellon and Citigroup, and Wells Fargo Strategic Capital and investment companies DRW and SCB 10x.

Andreessen Horowitz and PayPal Ventures joined current investors from Talos’ previous Series A investment round that concluded in May 2021 and backers including Fidelity Investments, Illuminate and Initialized Capital from Castle Island Ventures.

Anton Katz, Talos’ co-founder and CEO, said:

“This funding round represents a major inflection point for the industry. We’ve long heard that “the institutions are coming.” The institutions are now here, and we’re extremely proud to be the digital asset trading platform of choice for leading institutions around the world.”

Talos partners include a broad range of companies within the crypto ecosystem, including various exchanges like Binance and Coinbase, over-the-counter trading desks and foreign currency conversion platforms. As a result, Talos claims that by May 2022, its institutional trading volumes has grown by a factor of 20.