Elwood Technologies, a platform providing institutional-grade access to digital asset markets and liquidity venues, announced it has closed a $70 million Series A funding round. The round was co-led by Europe’s largest B2B investor Dawn Capital and global investment bank, Goldman Sachs. There was additional participation from investors in both the traditional finance and digital asset industries, including Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures.
Elwood will deploy the funds to meet the needs of its rising number of institutional clients by expanding product offerings and its global operations.
James Stickland, CEO of Elwood, said in a statement: “The rich mix of investors participating in this raise reaffirms the movement of financial institutions working closely with their native digital asset technology providers. Together, we aim to provide broader mass market involvement in digital assets and cryptocurrency.”
Designed to simplify entry to digital assets for institutional investors, Elwood’s full-stack solution provides execution and deep liquidity; diverse market connectivity; full reporting and analytics; customer support; and access to a broad range of instruments. Elwood’s infrastructure has been perfected over three years and is already being used by leading fintechs, asset managers, and FI clients.
Mathew McDermott, global head of Digital Assets at Goldman Sachs, said in a statement, “As institutional demand for cryptocurrency rises, we have been actively broadening our market presence and capabilities to cater for client demand. Our investment in Elwood demonstrates our continued commitment to digital assets and we look forward to partnering to expand our capabilities.”