Sygnum Bank achieves Unicorn status following $58 million funding round to expand Bitcoin focus

Switzerland and Singapore-based crypto bank Sygnum has raised $58 million in an oversubscribed strategic growth round, achieving Unicorn status with a post-money valuation of more than $1 billion.

Fulgur Ventures, a venture capital firm specializing in Bitcoin 
 BTC +5.14%
 technologies, was the cornerstone investor in the final close of the round, Sygnum said in a statement shared with The Block. It is joined by new and existing strategic and financial investors. Sygnum team members also participated on equal terms, continuing to hold majority ownership alongside co-founders and the board, according to the company.