Celsius Network Valuation, Funding & Investors
Celsius Network is valued at - as of July 2022.
Last Celsius Network valuation
-
Secondary · Jul 2022
Last Celsius Network funding round
$350M
Series B · Nov 2021
Cumulative funding Celsius Network raised
$864M
across 7 funding rounds
Key investors in Celsius Network
La Caisse
gumi Cryptos Capital (gCC)
Westcap
Tether
Disrupt Ventures
Tokentus Investment
About Celsius Network
Celsius Network is a London-headquartered blockchain platform offering lending and borrowing services in cryptocurrencies. Launched in 2017, it provides interest on deposits and loans to members through smart contracts. The company faced bankruptcy proceedings in the United States in 2022 amid cryptocurrency market challenges.
Founded
2017
HQ
LondonWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Valuation
- (Jul 2022)
Celsius Network Valuation
Celsius Network is currently valued at -, based on its secondary sale in July 2022.
Celsius Network valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2022 | Secondary | - |
| Nov 2021 | Series B | $3.3B |
| Oct 2021 | Series B | $3.3B |
| Jul 2020 | Undisclosed stage | $120M |
| Jun 2020 | Strategic investment | $130M |
Celsius Network Funding History
Celsius Network has raised a total of $864M across 7 funding rounds, plus 1 secondary share sale.
Celsius Network's first fundraising round was a $50M ico round in March 2018. The most recent completed round was a $350M Series B in November 2021.
Celsius Network funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2022 | Secondary | - | - | - | Celsius filed for Chapter 11 bankruptcy on July 13, 2022, one month after pausing withdrawals. A declaration filed the following day reported a $1.2 billion deficit in the company's balance sheet. Mashinsky said that the company had "made what, in hindsight, proved to be certain poor asset deployment decisions". |
| Nov 2021 | Series B | - | $350M | $3.3B | Celsius Network, a centralized cryptocurrency lending platform, completed an oversubscribed Series B funding round totaling $750 million by November 24, 2021, after initially raising $400 million in October 2021 at a $3 billion valuation, with the additional $350 million bringing the valuation to $3.25 billion. The round was led by WestCap Group and Caisse de dépôt et placement du Québec, Canada's second-largest pension fund. Funds were allocated to expand product offerings, enter new markets, develop the CelsiusX project bridging CeFi and DeFi in partnership with Polygon, Chainlink, and Enzyme Finance, and invest in green Bitcoin mining, including a prior $200 million commitment in June and an additional $300 million announced in November for U.S.-based mining. The company also acquired custody startup GK8 for $115 million earlier. By October 2021, Celsius reported total assets exceeding $25 billion held by over 1 million registered customers, having paid more than $850 million in interest to users via its Earn product over three years, demonstrating significant user traction amid regulatory scrutiny from states like Texas and New Jersey over potential unregistered securities. CEO Alex Mashinsky highlighted the funding's role in enhancing credibility and compliance, planning to double headcount from 486 to nearly 1,000 employees and pursue strategic acquisitions for institutional-grade services and global expansion. The crypto lending sector faced heightened regulatory attention in 2021, with peers like BlockFi receiving cease-and-desist orders and Coinbase facing SEC threats over interest-bearing products. Celsius positioned itself as a stable player leveraging investor confidence, though ambitions for a $10 billion valuation in 2022 were noted by Mashinsky. The firm later encountered challenges, filing for bankruptcy, with a bankrupt/emergence process in January 2024 after raising $783.8 million across 10 rounds total. |
| Oct 2021 | Series B | La Caisse (lead); Westcap (lead) | $400M | $3.3B | Celsius Network, a leading global cryptocurrency earning and borrowing platform, closed a $400 million investment round on October 12, 2021, led by WestCap and Caisse de dépôt et placement du Québec (CDPQ, also referred to as La Caisse). The transaction valued the company at $3.25 billion according to CEO Alex Mashinsky, with other reports confirming more than $3 billion. This marked CDPQ's first cryptocurrency investment, despite its $400 billion portfolio. Celsius had previously raised $22 million in a community round and $37 million via ICO, bringing total funding to about $459 million. Proceeds were earmarked to expand offerings, launch institutional-grade products, bridge traditional finance and crypto, double headcount from 486 to nearly 1,000 employees, and pursue global acquisitions to sustain growth. As of October 8, 2021, Celsius reported total assets over $25 billion, more than 1 million customers, and over $850 million paid in interest to users via its Earn product in just over three years. The raise occurred amid U.S. regulatory scrutiny, with cease-and-desist orders in Texas and New Jersey alleging unregistered securities in yield accounts; Celsius emphasized capital reserves to protect users. The investment propelled Celsius's valuation dramatically from a pre-money value of $123 million the prior year, a 2,542.3% increase. However, Celsius later filed for bankruptcy in July 2022, leading CDPQ to write off its $150 million stake and halt future crypto investments. Internal reports later highlighted aggressive CEL token strategies to inflate value, but these post-date the round. |
| Jul 2020 | Undisclosed stage | gumi Cryptos Capital (gCC) (lead); Tokentus Investment | $19M | $120M | Celsius Network is an interest-earning platform for cryptocurrency that provides users with a mobile app to access curated financial services. The platform allows users to earn up to 12% APY on cryptocurrency in their wallets, purchase cryptocurrencies, access cash loans backed by cryptocurrency, and transfer tokens. In July 2020, Celsius Network closed an $18.8 million equity funding round through BnkToTheFuture, an online investment platform connecting investors with cryptocurrency and FinTech companies. The round was open to both qualified US and non-US investors, with a minimum investment of $1,000 per investor. The company had initially set a fundraising goal of $17 million but increased the target due to strong investor appetite. The round valued the company at $120 million pre-money valuation. This was the second funding round for Celsius Network in 2020, following a $30 million investment from Tether earlier in the year. By the time of this funding round, Celsius Network had surpassed $1 billion in total cryptocurrency deposits in less than two years after launching its mobile app, demonstrating rapid user adoption and growth in the emerging crypto lending market. |
| Jun 2020 | Strategic investment | Tether (lead) | $10M | $130M | Celsius Network, a blockchain-powered interest income and lending platform launched in July 2018, secured its first equity round of $30 million with Tether International as the $10 million lead investor at a $120 million pre-money valuation, implying a $150 million post-money valuation. The company offers services including USDt-based lending and interest-bearing products like XAUt. Celsius planned to use the funds to grow its community and expand institutional services worldwide. At the time of the round on June 22, 2020, Celsius reported over 115,000 active wallet accounts, more than $6.2 billion in originated coin loans, over $680 million in assets under management, and had paid over $17 million in interest to its community since launch. The platform had recently surpassed $1 billion in cryptocurrency deposits and launched a funding round with retail broker BnkToTheFuture. CEO Alex Mashinsky highlighted the investment's role in delivering USDt-based services to users. |
| Jun 2020 | ICO | - | $15M | - | - |
| Mar 2020 | Series A | Alpha Transform Holdings; Disrupt Ventures | $21M | - | Celsius Network was a digital asset-based finance platform offering crypto lending and earning services to institutional, corporate, and retail clients. In August 2020, it raised $20 million via an equity round. By December 2020, Celsius managed $3.31 billion in assets under management, growing to over $4.5 billion by January 2021. The company expanded operations, planning an office in Australia by November 2020 and growing its Israel office. Celsius faced challenges amid market volatility, pausing transfers in June 2022 and filing for Chapter 11 bankruptcy on July 13, 2022. It emerged from bankruptcy on January 31, 2024, distributing over $3 billion in assets to creditors and spinning off a bitcoin mining business with 127,000 miners and significant power capacity. At its peak, Celsius served over 600,000 customers with $23.4 billion in assets. |
| Mar 2018 | ICO | Kyle Wang | $50M | - | - |
Who has invested in Celsius Network?
8 investors have backed Celsius Network across its funding rounds, including La Caisse, gumi Cryptos Capital (gCC), Westcap, Tether, Disrupt Ventures and Tokentus Investment.
Lead investors include La Caisse, Westcap, gumi Cryptos Capital (gCC) and Tether.
Celsius Network Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Bradenton, FL | 1 | Participant | Mar 2020 | |
 Dublin | 1 | Participant | Mar 2020 | |
 Frankfurt | 1 | Participant | Jul 2020 | |
| -- | 1 | Participant | Mar 2018 | |
 Montreal | 1 | Lead | Oct 2021 | |
 San Salvador | 1 | Lead | Jun 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Celsius Network
Celsius Network has acquired 2 companies to date.
Last acquisition by Celsius Network was on November 1st 2021. Celsius Network acquired GK8 by Galaxy for $115M.
Latest Acquisitions by Celsius Network
| Description | GK8 by Galaxy is a Tel Aviv-headquartered provider of institutional-grade self-custody solutions for digital assets as a Galaxy Digital subsidiary. Its Impenetrable Vault and uMPC technology support regulated custody, wallet management, and tokenization for banks and crypto firms worldwide. | BSAVE is a digital currency savings platform that generates interest on dormant bitcoins through automated transactions. London-headquartered since 2015, the service tracks earnings in real time for short- and long-term holders, integrating finance and blockchain technologies for yield optimization. |
| HQ Country |  | |
| HQ City | Tel Aviv | London |
| Deal Date | 1 Nov 2021 | 24 Jun 2019 |
| Valuation | $115M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Celsius Network acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by Celsius Network
Celsius Network has invested in 3 companies to date.
Latest investment by Celsius Network was on March 18th 2022. Celsius Network invested in CoinRoutes in their $16M Series B round.
Latest Investments by Celsius Network
| Description | CoinRoutes is a cryptocurrency trading software provider specializing in smart order routing technology. The platform aggregates liquidity from over 35 exchanges and optimizes trade execution for institutional traders. It supports Bitcoin, Ethereum, and more than 20 other digital assets through algorithmic routing that minimizes slippage and market impact. Headquartered in New York, CoinRoutes serves professional investors with tools for high-volume trading and portfolio management. | Core Scientific Inc is engaged in designing, building and operating digital infrastructure for high-performance computing. The business operates in three operating segments; Digital Asset Self-Mining, consisting of performing digital asset mining for the own account, Digital Asset Hosted Mining, consisting of providing hosting services to third parties for digital asset mining, and HPC Hosting, consisting of providing hosting services to third parties for graphics processing unit (GPU) based HPC hosting operations. The majority of revenue is derived from the Digital Asset Self-Mining Segment. | - | - |
| HQ Country | | | | |
| HQ City | Miami, FL | - | - | - |
| Deal Date | 18 Mar 2022 | 26 Jul 2021 | 9 Jun 2021 | 16 Feb 2021 |
| Round | Series B | Strategic investment | Series A | Pre-seed |
| Raised | $16M | $54M | $5M | $700K |
| Investors | Galaxy Digital; Mirana; Cboe Global Markets; GSR; Wavemaker Genesis; Susquehanna International Group; Ayon Capital; AscendEX; Arca; Genesis; CMT Digital | - | Navier; Blockware Solutions; Bitnomial; HODL Capital; Supplybit; DeFi Technologies; NYDIG; DPO | Argo Blockchain; Bitnomial |
| Valuation | $70M | $4.3B | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Celsius Network investments and their VC round multiples. Start Free Trial | ||||
Celsius Network Competitors
Celsius Network competitors include listed companies like Net digital, Hyperion DeFi, Finexity and Metalpha Technology Holdings, and private ones like Alpha Impact and Axie Infinity.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Germany | Publicly listed | $43M | $5M | $55M | 1.6x | |
| United States | Publicly listed | $813K | ($44M) | $54M | 9.8x | |
| Germany | Publicly listed | $2M | ($1M) | $49M | 4.6x | |
 Hong Kong | Publicly listed | $37M | $2M | $47M | - | |
 Singapore | Private | - | - | $1M | - | |
 Ho Chi Minh City | Private | - | - | $1M | - |
Celsius Network Public Comps
Celsius Network is still privately-owned, but its public comps include Genesis Holdings, Waste Energy, Goobit Group, Valuno Group, AGM Group Holdings, SYNERGA.fund, Coinix and Arax Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| $424K | ($596K) | 4.4x | - | (3.1x) | - | |||
| $10M | ($599K) | 0.1x | - | (1.2x) | - | |||
| $69M | ($7M) | 0.0x | - | (0.3x) | - | |||
| $31M | $4M | 0.1x | - | 1.3x | - | |||
| $4K | ($345K) | 811.3x | - | (9.3x) | - | |||
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Common questions about Celsius Network
| When was Celsius Network founded? | Celsius Network was founded in 2017. |
| Where is Celsius Network headquartered? | Celsius Network is headquartered in London, United Kingdom. |
| Is Celsius Network publicly listed? | No, Celsius Network is a private, VC-backed company. |
| What is Celsius Network's valuation? | Celsius Network was last valued at - in its secondary sale in July 2022. |
| How much funding has Celsius Network raised? | Celsius Network has raised $864M across 7 funding rounds. |
| What was Celsius Network's last funding round? | Celsius Network's last funding round was a $350M Series B in November 2021. |
| Who are Celsius Network's investors? | Celsius Network's investors include Alpha Transform Holdings, Disrupt Ventures, Tokentus Investment, Kyle Wang, La Caisse, Tether, gumi Cryptos Capital (gCC) and Westcap. |
| Which companies are comparable to Celsius Network? | Companies comparable to Celsius Network include Net digital, Hyperion DeFi, Finexity, Metalpha Technology Holdings, Alpha Impact and Axie Infinity. |
| How many companies has Celsius Network acquired? | Celsius Network has acquired 2 companies, including GK8 by Galaxy and BSAVE. |
| What was the largest acquisition by Celsius Network? | The $115M acquisition of GK8 by Galaxy in November 2021 is the largest acquisition Celsius Network has made to date. |
| How many companies has Celsius Network invested in? | Celsius Network has invested in 3 companies, including CoinRoutes, Core Scientific and Luxor Technology. |
| What was Celsius Network's last investment? | In March 2022, Celsius Network invested in CoinRoutes' $16M Series B alongside Galaxy Digital, Mirana, Cboe Global Markets and 8 other investors. |
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