Mountain View-based cryptobank Abra has announced the closing of their Series C led by IGNIA, through an SPV (See Fortune article here). The Company raised $55MM from IGNIA, Blockchain Capital, Lerer Hippeau, American Express Ventures, Stellar Development Foundation, Kingsway Capital, and Tiga Investments at a $340MM post-money valuation. IGNIA initially invested in Abra’s Pre-Series B Round and has played a key role in the Company’s expansion in Latin America as the only investor from the Region. Abra has had a significant growth in the past year becoming a leading wealth management platform for crypto investing. IGNIA is immensely proud to be partnered with Abra in this journey to revolutionize the cryptoasset and finance industries. Congratulations to Bill Barhydt (Founder & CEO) and the entire Abra team.
Abra was founded in 2014 in Mountain View, California and has rapidly grown to become a full scale cryptobank, offering trading, borrowing and interest earning capabilities on cryptoassets. The Company has experienced exponential growth, by July 2021, Abra revenues are 4 times the 2020 annual total, and is up to over $1 BN in AUM, as they continue to add new features, providing a safe and secure platform to manage crypto. Abra operates in over 100+ countries around the globe.