Mad Lads’ Backpack Exchange closes $17 million Series A led by Placeholder VC

Feb 28, 2024•almost 2 years ago

Amount Raised

$17 Million

Round Type

series a

San BernardinoCryptocurrencyBlockchainFinancial Services

Investors

Delphi DigitalSelini CapitalJump CryptoWintermuteAmber GroupRobot VenturesHashedPlaceholder Vc

Description

Backpack Exchange has closed a $17 million strategic Series A funding round led by Placeholder VC, with participation from other strategic investors. The new funding round marks a new chapter for the crypto industry according to the founder and CEO, Armani Ferrante.

Company Information

Company

Backpack Exchange

Location

San Bernardino, California, United States

About

Backpack Exchange is a fully regulated global cryptocurrency exchange building an innovative, easy-to-use and compliant trading platform for both experienced and new web3 users worldwide. Backpack currently serves users from over 150 countries and regions with more than $60 billion in trading volume. The Backpack ecosystem comprises several products and services, including the popular Backpack Wallet (noncustodial), Backpack Exchange, and Mad Lads, the top NFT community in the Solana ecosystem.

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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