WestCap and Caisse de dépôt et placement du Québec co-led a round valuing the Tether-backed crypto lending platform developer at over $3bn.

Celsius Network, the US-based cryptocurrency services platform developer backed by stablecoin issuer Tether International, received $400m in funding yesterday at a valuation in excess of $3bn.

The round was co-led by growth equity firm WestCap and fund manager Caisse de dépôt et placement du Québec (CDPQ).

Founded in 2017, Celsius runs an online blockchain-based platform allowing users to take out dollar-denominated loans from other members of its community at a low cost through cryptocurrency-denominated financing accounts.

Funding will be used…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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