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FT Partners Advises Abra on its $55,000,000 Series C Financing

Overview of Transaction

  • On September 15, 2021, Abra announced it has raised $55 million in Series C financing led by IGNIA and Blockchain Capital with participation from new investors Kingsway Capital and Tiga Investments
  • Additional participation in the round came from existing investors including Amex Ventures, Arbor Ventures, Lerer Hippeau, and Kenetic Advisors
  • Founded by Bill Barhydt in 2014, Abra is the leading wealth management platform in the crypto space, allowing hundreds of thousands of users to earn yield on crypto assets, trade over 100 virtual currencies, and borrow against crypto holdings
  • Abra has processed over $1 billion in crypto-backed loans and paid millions of dollars in interest to retail and institutional clients
  • Abra Earn offers users to earn competitive interest rates on crypto assets, including up to 8% interest on stablecoins, compounded daily
  • Abra’s cross-border lending platform matches developed market investors with developing market borrowers to capitalize on a massive yield arbitrage opportunity

Significance of Transaction

  • The investment will fuel Abra’s rapid user base growth and support its continued commitment to expanding the product suite and capabilities
  • Abra’s Series C financing will allow the company’s world-class development team to further expand its product suite for wealth management, trading, and payments, with a focus on offerings for high-net-worth clients and institutions

FT Partners' Role

  • FT Partners served as exclusive financial and strategic advisor to Abra
  • This transaction highlights FT Partners’ industry-leading expertise within the burgeoning crypto space, as well as its successful track record of generating highly favorable outcomes for high-growth FinTech companies globally