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21.co Raises $25 Million, Becoming Switzerland’s Largest Crypto Unicorn

21.co is unveiled as a parent company to 21Shares and Amun

ZURICH, Switzerland – September 7, 2022 – 21.co, the world’s leader in providing access to crypto through simple and easy to use products, today announced a $25 million round led by Marshall Wace. This round values the business up to $2 billion, making 21.co Switzerland’s largest crypto unicorn. With this round of financing, 21.co will continue to drive rapid, targeted growth through first-of-their-kind products, key market expansions and strategic talent acquisitions. Other investors in the round include Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners.

In addition to funding, the company also announced its new parent company, 21.co. 21.co is a collection of companies, the largest of which is 21Shares, the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties – in addition to Amun, a token provider focused on making the DeFi world more accessible.

This round – raised during Crypto Winter – was the company’s first raise in over two years, a testament to the company’s early success and growing investor demand in the asset class. To prove such investor demand, the company ended 2021 on a nine-figure revenue run rate and has seen sustained inflows, even during down markets. Year-to-date, from September 2021 to September 2022, 21.co recorded over $650 million in net new assets, and hit its peak AUM at $3 billion in November of 2021. To support this rapid business growth, 21.co grew its headcount 75% during this period.

Launched in 2018, by Ophelia Snyder and Hany Rashwan, 21.co was founded to build bridges into the crypto world. Since then, 21.co has been on a tremendous journey to stay at the forefront of the market by providing investors with the most innovative crypto exchange-traded products (ETPs), the broadest token solutions, a decentralized software platform to create, list and manage ETPs globally and more forward-thinking solutions – all powered by free institutional-grade research to educate investors about the evolving industry.

“My co-founder, Ophelia, and I set out with a simple mission to make crypto more accessible,” said Hany Rashwan, CEO and Co-Founder at 21.co. “Now, we’re the highest valued and largest tech startup in Switzerland – and we’re still only in the early days. 21.co remains committed to building innovative products that meet investor demand as this asset class continues to gain rapid momentum.”

“The success 21.co has experienced over the past four years is truly amazing,” said Ophelia Snyder, President and Co-Founder at 21.co. “We have built an incredibly diverse team, with some of the brightest minds in crypto and brought on best-in class investors. Our drive to revolutionize the world of crypto and build bridges into the asset class is only just getting started.”

“At Marshall Wace, our culture is built around innovation – and we saw an immediate alignment of values when meeting with the team at 21.co. 21co is a first-mover in the crypto industry: the company is focused on growth, and committed to bringing new and innovative products to investors across markets – in a secure, accessible way,” said Amit Rajpal, Partner and CEO Asia at Marshall Wace. “Even in the midst of crypto winter, MW believes that 21.co has the potential to revolutionize the industry globally and we’re looking forward to working alongside the team.”

“When I first met the team at 21.co, I understood their long-term vision and truly believed the company would transform the crypto ecosystem,” said Cathie Wood, Founder, CEO and CIO of ARK Investment Management LLC, and an independent board member of 21.co. “This round is a testament to 21.co’s early success and its ability to thrive in both bull and bear markets. I’m proud to be a part of the 21.co growth story.”

21.co’s raise follows a year of significant growth and product innovation. Most notably, 21Shares:

To learn more about the company, please visit www.21.co.

Press Contacts:

Arielle Sobel, Head of Global Communications, press@21.co 
Megan Enright, Communications Manager, press@21.co

About 21.co
21.co is the world’s leader in providing access to crypto through simple and easy to use products. 21.co is the parent company of 21Shares, the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties – in addition to Amun, a token provider focused on making the DeFi world more accessible. The company was founded in 2018 by Hany Rashwan and Ophelia Snyder. 21.co is registered in Zug, Switzerland with offices in Zurich and New York. For more information, please visit www.21.co.