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Riot Blockchain's Coinsquare Receives Milestone Investment
Dec. 04, 2017 09:34AM PST
Blockchain InvestingRiot Blockchain (NASDAQ:RIOT) has announced that one of its strategic portfolio holdings, goNumerical has closed a $10.5 million investment at $110.5 million post-money valuation. As quoted in the press release: A prominent global asset manager with over a trillion dollars under management led the round with a CAD $10 million investment. goNumerical operates Coinsquare, a leading Canadian …
Riot Blockchain (NASDAQ:RIOT) has announced that one of its strategic portfolio holdings, goNumerical has closed a $10.5 million investment at $110.5 million post-money valuation.
As quoted in the press release:
A prominent global asset manager with over a trillion dollars under management led the round with a CAD $10 million investment. goNumerical operates Coinsquare, a leading Canadian digital currency exchange. The new valuation for Coinsquare is over 3x the valuation from Riot’s investment in September, 2017.Coinsquare has reported profitable operations and has grown over 300% in several different financial metrics since Riot’s investment in September. Although competitor information is not widely available, Riot believes Coinsquare is one of the largest, if not the largest, Canadian digital currency exchange.“We are thrilled with this latest sign of confidence in Coinsquare, the digital currency market, and the important role Coinsquare is playing in growing this market in Canada,” commented John O’Rourke, Chairman and Chief Executive Officer of Riot Blockchain. “Coinsquare was our first strategic investment and is well positioned to continue executing on their lofty ambitions and vision of their CEO, and Riot advisor, Cole Diamond.”
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