crypto exchange Coinmeter has successfully raised $7 million in funding in a round backed by three angel investors and one hundred shareholders.

Following the financing, the company’s valuation has tripled to $180 million. The company was previously valued at $60 million last year.

Founded in 2018, Estonia-based Coinmetro is an EU-licensed exchange. The crypto exchange also has regulatory registrations in the US, Canada, and Australia.

The company plans to use the new capital to expand operations in the US, UK and Europe, while also launching a series of passive income products.

Coinmetro CEO Kevin Murcko said, “We are not short of ideas and look forward to bringing them to life for our growing community in the months and years to come.”

According to Crunchbase, the crypto startup has raised a total of $18 million to date.

The company plans to raise a Series A in early 2023.

During the third quarter, the average check size for an initial and pre-Series A round was $6.5 million.

Recently, another crypto company was on the hunt to raise funds.

New York-based web3 investment firm CoinFund announced on November 7, 2022 that it was looking to raise $250 million just three months after its previous fund.

CoinFund announced that it plans to use the investment to fund early-stage startups.

Three separate filings have shown that CoinFund’s Cayman Islands-domiciled funds are aiming to raise $130 million and $20 million. Meanwhile, the company’s associated Delaware branch is seeking $100 million.

Reports suggest that the funding round is still in its early stages and sales have yet to occur.

In August, CoinFund announced a $300 million fund to support early-stage blockchain projects.

The fund was backed by institutional investors including the Teachers Retirement System of Texas, Adams Street Partners and StepStone Group.

The venture fund, which is called “The CoinFund Ventures I Fund”, was opened to invest in web3 companies that show commercial traction.

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