Arthur Hayes, CEO and Co-Founder, 100x Group, says, “South Africa has an incredibly exciting and fast-growing cryptocurrency ecosystem, and we believe VALR is well-placed to capitalise on future growth of bitcoin trading. In VALR we’re backing not only a successful early stage business, but a management team with the ability to scale operations significantly.”
VALR has raised R79-million to date, including an equity funding seed round of R20-million in July 2018.
“At 4Di we have been looking for an appropriate investment in the crypto sector for some years, and we are delighted to be backing such a high quality business and management team. VALR has shown great integrity and leadership coupled with impressive growth, and delivers a mature, institutional grade offering to the local market,” says Justin Stanford, Co-Founding General Partner at 4Di Capital. “This is becoming a necessary component in all markets the world over, as the crypto asset ecosystem becomes increasingly more accepted and integrated into the global financial system.”