The funding was led by Canaccord Genuity Corp, financial services firm. In four months crypto exchange has raised a total of $47.3 million, with equity valuations increasing from $30 million to $430 million. According to Coinsquare, the funding will be used to fuel a global growth plan and diversification strategy focused on making the platform even more responsive to mainstream customers' needs.
The company is going to hire at least 100 employees in the next few months. Coinsquare needs collaborative self-starters who want to set the bar for financial services in the 21st century. By the second quarter of this year, Coinsquare will have 200 employees working for the exchange.
According to recent reports, Coinsquare is targeting at about $150 million ($120 million) in an initial public offering in September 2018 to help finance an overseas expansion.
The company’s expansion plans also include a strategic investment in existing digital currency mining operations, including its own; the launch of CoinCap Funds, a group of funds focused on investments across the digital asset landscape; and a planned Trading and Arbitrage division.