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- Qredo
Qredo Valuation, Funding & Investors
Qredo is valued at $460M as of February 2022.
Last Qredo valuation
$460M
Series A · Feb 2022
Last Qredo funding round
$80M
Series A · Feb 2022
Cumulative funding Qredo raised
$189M
across 5 funding rounds
Key investors in Qredo
Accomplice
The Spartan Group
LD Capital
Signum Capital
gumi Cryptos Capital (gCC)
Coinbase
About Qredo
Qredo is a London-headquartered blockchain platform for institutional custody and transfer of digital assets, utilizing Multi-Party Computation to eliminate single points of failure in wallet management. The protocol supports Bitcoin, Ethereum, and stablecoins, processing over $10 billion in annual volume. Qredo serves hedge funds and exchanges with 24/7 settlement capabilities.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$460M (Feb 2022)
Qredo Valuation
Qredo is currently valued at $460M, based on its Series A in February 2022.
The $80M round was led by 50T Funds.
Qredo valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Series A | $460M |
Qredo Funding History
Qredo has raised a total of $189M across 5 funding rounds.
Qredo's first fundraising round was a $2M angel round in October 2015. The most recent completed round was a $80M Series A in February 2022.
Qredo funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Series A | 50T Funds (lead) | $80M | $460M | Qredo is a decentralized crypto custody platform designed for institutional investors seeking secure, cost-efficient, and compliant ways to engage with digital assets and decentralized finance (DeFi). The company provides institutional-grade custody solutions leveraging decentralized multi-party computation (MPC) technology to enable secure asset management on-chain. In February 2022, Qredo closed an $80 million Series A funding round led by 10T Holdings (which later merged with 1RoundTable Partners to form 50T), bringing the company's valuation to $460 million USD. The round included strategic investors such as Coinbase Ventures, Avalanche, and Terra, alongside financial investors Kingsway Capital, HOF Capital, Raptor Group, and GoldenTree Asset Management. The Series A consisted of $60 million in primary capital and $20 million from secondary investors. Galaxy Digital served as the exclusive financial advisor and sole placement agent for the transaction. By the time of the Series A, Qredo had raised $120 million in the preceding 12 months, having previously closed a seed round in May 2021 and a Token Private Sale in June 2021, attracting both financial and strategic backers. The strategic investors committed to building solutions on Qredo's platform to drive user adoption and ecosystem growth. |
| Jun 2021 | ICO | Accomplice; Nexo; LedgerPrime; Coinbase; Figment; LD Capital; Signum Capital; Miles Parry | $16M | - | - |
| May 2021 | Seed | gumi Cryptos Capital (gCC) (lead); The Spartan Group (lead) | $11M | - | Qredo is a decentralized digital asset management infrastructure platform that enables users to securely transfer, swap, and settle cryptocurrencies including Bitcoin and Ethereum across Layer 1 and Layer 2 blockchains. The company uses advanced Multi-Party Computation (MPC) technology to provide institutional-grade security for digital asset custody and participation in decentralized finance (DeFi) innovations. In May 2021, Qredo closed an $11 million seed round led by G1, Gumi Cryptos, Maven 11, Spartan Group, 1kx, and Kenetic. Additional investors included Amnis Ventures, Artus, Borderless Capital, Celsius, CMS Holdings, Connect.Capital, Deribit, GSR, Kronos, Quantstamp, Q-Stone Partners, SVK Crypto, Tokentus, 3commas, Wintermute, Yellow, and Zhou Holdings. The funding was earmarked for doubling the R&D team, expanding C-suite talent, and preparing for the anticipated version 2 launch. At the time of the seed round, Qredo version 1 mainnet was live with 24 nodes operating across 6 tier 4 data centers in Tokyo, Hong Kong, Singapore, New York, Chicago, and London. The company was positioned to transition to version 2 decentralization, with validators earning QRDO governance tokens through a revenue-sharing mechanism. By February 2022, Qredo had raised an additional $80 million Series A led by 10T Holdings at a $460 million post-money valuation, with strategic participation from Coinbase Ventures, Avalanche, Terra, Kingsway Capital, HOF Capital, Raptor Group, and GoldenTree Asset Management. |
| Mar 2021 | Undisclosed stage | Ceras Ventures (lead) | $80M | - | - |
| Oct 2015 | Angel | - | $2M | - | - |
Who has invested in Qredo?
12 investors have backed Qredo across its funding rounds, including Accomplice, The Spartan Group, LD Capital, Signum Capital, gumi Cryptos Capital (gCC) and Coinbase.
Lead investors include 50T Funds, gumi Cryptos Capital (gCC), The Spartan Group and Ceras Ventures.
Qredo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Lead | Feb 2022 | ||
| 1 | Lead | May 2021 | ||
This data is available for Pro users. Sign up to see all 12 Qredo investors. Start Free Trial | ||||
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 TrialInvestments by Qredo
Qredo has invested in 2 companies to date.
Latest investment by Qredo was on November 17th 2022. Qredo invested in Veax in their $1M Pre-seed round.
Latest Investments by Qredo
| Description | Veax is a decentralized exchange platform that incorporates traditional finance mechanisms for trading digital assets. It enables users to swap cryptocurrencies with features bridging centralized liquidity and blockchain security. | Caduceus Foundation develops a blockchain protocol optimized for metaverse applications, featuring a meta-array full-merge transaction engine leveraging GPU and AI NPU processing for high-throughput parallel computations. It supports decentralized virtual worlds, NFTs, and gaming economies with low-latency consensus mechanisms. |
| HQ Country | ||
| HQ City | Cham | Singapore |
| Deal Date | 17 Nov 2022 | 29 Mar 2022 |
| Round | Pre-seed | Series A |
| Raised | $1M | $4M |
| Investors | Tacans; Widjaja Family; Skynet Trading; Seier Capital; Parabolic; Outlier Ventures; Circle; Proximity | Blockfills; TokenInsight; Digital RFQ; John Terry; Kane & Rao Group; Susquehanna International Group; Bin Zayed Group; Electric Feel Ventures |
| Valuation | undisclosed | $80M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Qredo investments and their VC round multiples. Start Free Trial | ||
Qredo Competitors
Qredo competitors include listed companies like Finatext and CARE Ratings, and private ones like Paradigm, Singularity, Flipside Crypto and Elliptic.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $400M | - | ||
| Private | - | - | $400M | - | ||
| Private | - | - | $350M | - | ||
| Private | - | - | $670M | - | ||
| Publicly listed | $71M | $13M | $470M | 5.4x | ||
| Publicly listed | $49M | $21M | $516M | 9.9x |
Qredo Public Comps
Qredo is still privately-owned, but its public comps include Finatext, Stewards, GlobalData, CARE Ratings, Value Line, Coincheck Group, HCR Co, CTOS Digital, Bakkt and Rhino Bitcoin.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $71M | $13M | 6.3x | 5.4x | 34.1x | - | |||
| - | - | - | - | - | - | |||
| $433M | $140M | 1.7x | 1.7x | 5.3x | 5.0x | |||
| $49M | $21M | 9.2x | 9.9x | 21.5x | 20.5x | |||
| $33M | $29M | 8.5x | - | 10.0x | - | |||
| $3.1B | $354K | 0.2x | 0.2x | 1312.3x | (189.0x) | |||
| $75M | ($3M) | 3.3x | - | (84.3x) | - | |||
| $80M | $28M | 4.4x | 4.1x | 12.6x | 15.6x | |||
This data is available for Pro users. Sign up to see all Qredo competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Qredo
| When was Qredo founded? | Qredo was founded in 2018. |
| Where is Qredo headquartered? | Qredo is headquartered in London, United Kingdom. |
| Is Qredo publicly listed? | No, Qredo is a private, VC-backed company. |
| What is Qredo's valuation? | Qredo was last valued at $460M in its Series A in February 2022. |
| How much funding has Qredo raised? | Qredo has raised $189M across 5 funding rounds. |
| What was Qredo's last funding round? | Qredo's last funding round was a $80M Series A in February 2022, led by 50T Funds. |
| Who are Qredo's investors? | Qredo's investors include Accomplice, Nexo, LedgerPrime, Coinbase, Ceras Ventures, Figment, LD Capital, Signum Capital, 50T Funds, gumi Cryptos Capital (gCC) and 2 others. |
| Which companies are comparable to Qredo? | Companies comparable to Qredo include Paradigm, Singularity, Flipside Crypto, Elliptic, Finatext and CARE Ratings. |
| How many companies has Qredo invested in? | Qredo has invested in 2 companies, including Veax and Caduceus Foundation. |
| What was Qredo's last investment? | In November 2022, Qredo invested in Veax's $1M pre-seed round alongside Tacans, Widjaja Family, Skynet Trading and 5 other investors. |
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