Celsius Network's B round of financing increases to an oversubscribed US$750 million - Aliens: AI Crypto News & Markets Updates

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Celsius Network's B round of financing increases to an oversubscribed US$750 million

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Aliens

Thu, Nov 25, 2021

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Alex Mashinsky, CEO of Celsius Network, said that the company's B round of financing has increased to US$750 million. It is currently oversubscribed.

In October of this year, the crypto lending platform completed a US$400 million financing led by West Cap and CDPQ, with a valuation of US$250 million.

The new funds will be used to expand product supply, open up markets, and further connect centralized finance and DeFi through their new project, CelsiusX. Celsius' asset management scale has increased to US$ 28.6 billion.

“We paid over $1 billion to our community in yield, and I think the investors’ excitement in almost doubling the round show that our mission of ‘doing good then doing well’ is working and they want to be a part of it,” Mashinsky said. “We’re happy to include more investors that will make Celsius stronger.”

Source: Blockworks

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