Coinhouse, a digital asset service provider (DASP or VASP) regulated in both France and Luxembourg, has raised USD $17 million in a Series B funding round. The round was led by True Global Ventures 4 Plus (TGV4 Plus) Fund that invested USD $5.7 million. They are the first PSAN (Prestataires de Services sur Actifs Numériques), as defined by the Loi Pacte, registered with the Autorité des Marchés Financiers in France.
Coinhouse raised a Series A round of USD $2.7 million three years ago.
Since their spin-out from Ledger in 2017, Coinhouse is viewed as a leading “crypto bank” pioneer in the industry, as they provide users to buy, hold and sell over 40 cryptoassets. Coinhouse serves both individuals and institutions who wish to acquire and secure their digital assets. Coinhouse reports more than 500,000 clients in Europe.
In addition to the on-line platform and a mobile app, Coinhouse differentiates touts the following services:
- First Crypto Private Bank Service (Digital Asset Bank)
- A custodian service for institutional investors
- A team of advisors and experts dedicated to serve companies
- A Multilingual Customer support service, accessible by email and by phone
“[Coinhouse’s] objective is to make Crypto-assets accessible to as many people as possible, and within a regulated framework which guarantees the serenity for investors. Thanks to this fundraising, Coinhouse will continue to diversify its offer, expand in Europe and strengthen its team to support its growth and allow European customers, individuals, businesses, to diversify and grow their savings.”
Frank Desvignes, French Partner of True Global Ventures, said he is very enthusiastic by the firms future:
“They have shown strong profitable growth, and are very well positioned with high quality services in France and Europe to welcome the new demand from High Networth individuals, family offices and companies who are investing into digital assets.”
TGV4 Plus aims to invest in serial entrepreneurs leading globally ambitious blockchain start-ups. The fund is dedicated to blockchain companies, primarily in late-stage Series B and C across four verticals: Entertainment/gaming, infrastructure, financial services and data analytics / artificial intelligence (AI).
The Loi Pacte in France created a regulatory framework for digital assets including utility type tokens and the issuance of these crypto-assets.