Celsius Network Series B Expands to $750M


Celsius Network’s Series B was expanded to $750 million, up from $400 million at a $3.25 billion valuation introduced October.

  • The information was first reported by Blockworks late on Nov. 24. The crypto lender’s CEO Alex Mashinsky and official account each tweeted the story, whereas the Celsius staff confirmed the story to CoinDesk in a message.
  • Celsius closed a $400 million Series B in October led by development fairness agency WestCap, and Caisse de dépôt et placement du Québec (CDPQ), bringing its valuation to $3 billion. The firm on the time burdened that the spherical would enhance their credibility with regulators.
  • The lender has been focused by regulators in Alabama, Kentucky, New Jersey, and Texas over alleged securities legal guidelines violations.

Read extra: 3 States: Alabama Securities Commission Also Claims Celsius Violated Securities Laws

UPDATE (Nov. 25, 05:23 UTC): Clarifies that valuation was in October in first paragraph.