Coinhouse raises 15 million euros to become the first European cryptobank

Coinhouse, the pioneer in the digital assets industry, has closed a €15 million Series B round led by True Global Ventures. Among the investors : CF Partners, XAnge, Raise Ventures, Expon, ConsenSys AG, and leading business angels such as Eric Larchevêque (Ledger’s co-founder) complete this round. This round will help accelerate the large-scale development of Coinhouse’s services for individuals and businesses in Europe, particularly in Luxembourg.

Coinhouse became independent from Ledger in 2017 and positioned itself as the first platform to support individuals and businesses, allowing them to simply invest in more than forty crypto-assets.

In addition to its online platform and new app, the fintech differentiates itself by offering a transparent service adapted to each type of investors:

– A customer service open to all, multilingual, accessible by email and over the phone, – The first Crypto Private Banking service,

– A team of account managers and experts dedicated to companies, – A custodian service for institutional investors.

Nearly three years after raising €2.4 million in Series A funding, the fintech company is continuing its strong growth with a tripling of the workforce and a 12-fold increase in turnover in three years. This development is fully in line with the growing adoption of crypto-assets by European savers, who are looking for diversification solutions in the context of growing inflation and virtually zero return investments offered by traditional players.

“Coinhouse wants to position itself as the first European “cryptobank”. Its objective is to make crypto-assets accessible to as many people as possible, within a regulated framework that guarantees investors’ peace of mind. Thanks to this fundraising, Coinhouse will continue to diversify its offer, expand in Europe and strengthen its teams to support its growth and allow European customers, individuals and businesses, to diversify and grow their savings” explains Nicolas Louvet, co-founder and CEO of Coinhouse and Coinhouse Custody Services.

“I am very enthusiastic about Coinhouse’ future. They have shown strong profitable growth, and are very well positioned with high quality service in France and Europe to welcome the new demand from High Networth individuals, family offices and companies on investing in digital assets” Frank Desvignes, Partner chez True Global Ventures, co-lead of the round with an investment of €5M.

“We have been with Nicolas and his teams since the beginning of the adventure. Given the excellent execution, we are delighted to be participating for the third consecutive time. Crypto-assets are still in their infancy and Coinhouse is on its way to becoming one of the European leaders in the sector”, says Alexis Du Peloux, Investment Director of the XAnge fund.

“We are very proud to support Coinhouse, one of the pioneering players in the crypto world in Europe. In a context where crypto is now a reality, we value the fact that Coinhouse is a regulated player that advocates a serious and responsible approach to the sector. In light of past performance and growth perspectives, we see Coinhouse as the future European leader in cryptobanking.” said Pierre-Edouard Berion, Partner at Raise Ventures.

This €15 million fundraising will allow Coinhouse to:

– Diversify its product offering to facilitate access to the crypto markets for all – Expand its presence in Europe,

– Strengthen its offering to corporate and institutional investors

After France, Coinhouse continues to expand its offer to become the first European cryptobank

In 2021, the significant acceleration in the adoption of crypto-assets has highlighted the need to offer alternative investment solutions for both retail and corporate clients. Coinhouse has mobilised its expertise to develop new products to meet these expectations.

To this end, the fintech company has just launched Coinhouse Asset Management, its offer that allows investors to delegate the management of their crypto portfolio to Coinhouse experts. With Coinhouse Asset Management, the investor defines the desired level of risk (conservative, moderate, offensive) and let Coinhouse manage its portfolio accordingly.

Coinhouse had already made a name for itself last October by creating an investment product, the Crypto Savings Account, allowing businesses or individuals to obtain a guaranteed return, at a fixed annualised rate of between 5% and 6%, with no equivalent on the market.

With its expansion in Europe, Coinhouse marks a first step by obtaining the registration from the CSSF to operate in Luxembourg

Coinhouse, the first platform to be registered as a PSAN (Service Provider for Digital Assets) by the AMF in France, has just taken another important step forward by obtaining registration with the CSSF, the Luxembourg regulator.

In 2022, Coinhouse’s activity in several European countries will accelerate. To this end, the company intends to double its workforce and quadruple its revenues generated abroad. To achieve this, the management team will be supported by the expertise of the founders of CF Partners, Family Office of the Carle family, which founded the Babilou group, one of the

world’s leading private day-care centers, and which has become the leader in its field in 12 countries.

Strengthening the offer to Corporate and Institutional Investors

This fundraising will enable it to strengthen the quality of its customer service and support its growth, particularly with Businesses, which are now integrating crypto-assets into their investment strategy and cash placement. It is also about enabling them to use cryptos as a means of payment.

On the institutional side, the subsidiary Coinhouse Custody Services offers a military-grade crypto-asset custodian solution, adapted to the needs of institutions, major accounts and investment funds.

Coinhouse’s stated objective is to meet the new investment expectations of individuals, while becoming an essential partner for businesses and institutions