Crypto exchange Coinmetro has raised 7 million euros ($7 million) in a strategic funding round backed by three angel investors and 100 existing shareholders.
The funding round takes Coinmetro's valuation to $180 million, a three-fold increase on the company's valuation of $60 million last year, the company said.
Founded in 2018, Coinmetro is a crypto exchange located in Estonia. It is an EU-licensed exchange and has active regulatory registrations in the U.S., Canada and Australia, according to its website.
The startup has raised a total of 18 million euros ($18 million) to date, according to Crunchbase. Coinmetro also plans to raise a Series A at the start of next year.
The fresh capital will enable the exchange to scale up operations in the U.S., UK and Europe. Coinmetro will also roll out a series of passive income products.
"We have no shortage of ideas and are looking forward to making them real for our growing community over the months and years to come," Coinmetro CEO Kevin Murcko said in a statement.
The average check size for a seed and pre-Series A round in the third quarter was $6.5 million, according to data from The Block Research.
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