Copper, a Crypto Custody Firm Raises $25M Led By Alan Howard. Investor Alan Howard has conducted a $25 million extension to the $50 million Series B funding round of Copper.
Howard is said to have invested $12.5 million at least in the crypto custodian. With the remaining raise coming from its existing inventors.
A UK-based provider of crypto custody service and trading technology. Copper has raised $25 million in an extension of its Series B investment round. The fundraise was being conducted by the owner of Elfwood asset Management, Alan Howard.
And Elwood Asset Management is an investment firm. That is focused mainly on both cryptocurrencies and blockchain technology, per one announcement.
The specific amount that was gathered by Alen Howard has not been disclosed. However, following the reports of sources that are familiar with the matter. Investor Alan Howard invested about $12.5 million, according to the Financial Times.
The remaining raise s believed to have come from the existing investors of the company.
Last month, Copper mentioned the closure of a $50 million Series B financing round. And this was co-coordinated by venture capital firms Dawn Capital and Target Global.
You might be wondering what exactly is Copper.
What is Copper?
Copper was founded in the year 2018 and it offers digital asset custody, prime brokerage. As well as settlement services to traditional assets managers that are looking for exposure to cryptocurrencies.
Copper has created a proprietary trading technology, known as ClearLoop. ClearLoop connects crypto exchanges and provides offline storage of funds while trades are being carried out.
During the last summer, the technology was extended to assist over-the-counter (OTC) derivatives trading.
Right under the terms of the deal, both Elwood Asset Management and Copper have gone into a strategic collaboration. And this will see both companies partner on “crypto trading technology. And prime services serving institutional investors”, said the CEO of Elwood, James Stickland.
Alan Howard Investment
The $12.5 million investment of Alan Howard in Copper is one of a number. That the co-founder of Brevan Howard Asset Management has debuted in the crypto space. Last month, Howard together with Mike Novogratz of Galaxy Digital, PayPal.
As well as Palantir co-founder Peter Thiel and More capital Management CEO Louis Bacon supported a $10 billion funding round for Bullish Global. This is the latest crypto exchange that was debuted by Block. one.
The remaining investments of Alan Howard include Bottlepay. And Bottlepay is a UK-based Bitcoin wallet and payments app. Digital asset manager Coinshares, crypto custodian Komainu and the German neobroker Nextmarkets
Earlier, Alan Howard put in $4 million in Kikitrade. Kikitrade is a crypto trading and investment platform that is based in Asia.