Coinsquare raises $10.5 million Series A

bitcoin

goNumerical-owned Coinsquare, a Toronto-based cryptocurrency platform for buying and selling bitcoin, has raised a $10.5 million Series A investment with a $110.5 million post-money valuation. The round was led by “a prominent global asset manager” whose name was not immediately available.

Coinsquare has reported profitable operations, and Riot Blockchain, which invested in the company in September, says it has grown over 300 percent in several different financial metrics.

Colorado-based Riot Blockchain — formerly known as Bioptix — is a maker of diagnostic machinery that is now focusing on blockchain investments.

“We are thrilled with this latest sign of confidence in Coinsquare, the digital currency market, and the important role Coinsquare is playing in growing this market in Canada,” said John O’Rourke, chairman and CEO of Riot Blockchain. “Coinsquare was our first strategic investment and is well positioned to continue executing on their lofty ambitions and vision of their CEO, and Riot advisor, Cole Diamond.”

BetaKit has reached out for comment from Coinsquare on the investment.

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.