General Atlantic leads $105 million funding in crypto trading platform Talos

Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration

May 10 (Reuters) - Digital asset trading platform Talos said on Tuesday it has raised $105 million in an early-stage funding round led by U.S. private equity firm General Atlantic, taking the company's valuation to $1.25 billion.

Leading banks such as Citigroup Inc (C.N), Wells Fargo & Co's (WFC.N) investment arm and BNY Mellon Corp (BK.N) also invested in the Series B round, along with New York City-based global growth investor Stripes and SCB 10X, the venture arm of Thailand's Siam Commercial Bank Pcl (SCB.BK).

Founded by Anton Katz and Ethan Feldman, Talos launched its platform in 2018 and has an impressive lineup of existing investors such as Andreessen Horowitz, PayPal Ventures and Fidelity Investments, who extended their partnership through the latest funding round.

Talos platform has users across the digital asset ecosystem, including broker-dealers, prime brokers, hedge funds, banks, custodians, exchanges and over-the-counter desks, according to the company.

The New York City-based firm intends to use the capital raised to expand product lines and invest in its trading platform in an effort to accelerate its expansion into Europe and Asia Pacific markets.

Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri

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