News
Coinhouse raises €40 million and anchors its position as Europe's leading cryptobank
“We are convinced that blockchain technologies will redefine the contours of many industries, including finance" Benoît Claveranne, Chief Transformation & Development Officer of ODDO BHF.
At ODDO BHF, we want to play an active role in the development of these innovative technologies. We believe that Coinhouse's pioneer position in a rapidly changing market environment, strong focus on bringing value to clients and international ambition are very much in line with the DNA of our Group.
Paris, June 8, 2022.
Coinhouse, the French pioneer in crypto-asset investment, has closed a €40 million funding round. Investors include ODDO BHF Group, investment funds True Global Ventures, Tioga Capital, XAnge Siparex Innovation, Raise Ventures, CF Partners, ConsenSys, Expon Capital as well as several prominent French families and business leaders. This round of financing will accelerate the development of Coinhouse's service offering for individuals and businesses in Europe.
Coinhouse has quadrupled its staff in less than 2 years and is positioned as the leading platform for supporting individuals and businesses, allowing them to simply invest in around 50 crypto assets as well as crypto savings management products.
Through its mobile application for the general public and its Crypto Private Banking service, unique in Europe, Coinhouse differentiates itself by offering a transparent service adapted to each individual:
- A customer service composed ofcrypto experts, open to all, based in Paris, multilingual and accessible by email and phone,
- A team of business managers and experts dedicated to corporate clients,
- Unique crypto savings management products, such as the Crypto Savings Account and Managed Accounts,
- A crypto custodian offer for institutional investors and key accounts.
At the same time, the French leader in crypto assets continues its strong growth by diversifying its service offering to meet the needs of new customers in this still emerging market. Since the beginning of 2022, Coinhouse has been opening up to the world of crypto payments and the needs of brands and merchants addressing Web3 (an internet based on decentralization and ownership).
As a registered Digital Asset Service Provider in France and Luxembourg, Coinhouse has supported more than 20 major French and international brands by enabling them to securely acquire and hold land in Metaverses, or to accept crypto payments immediately converted into euros for the sale of objects or NFTs, without having to manage the complexity of a portfolio or the accounting management of volatile assets.
This €40 million fundraising will allow Coinhouse to:
- Develop its crypto asset management business, beyond the existing products,
- Make crypto payments accessible and intuitive for both individuals and businesses,
- Accelerate its international expansion and study external growth opportunities,
- Facilitate the development of Web3 by simplifying transactions and the management of digital assets.
"I'm proud of our team and how far we've come in 5 years. We have gone from 5 employees to over 100, from a crypto exchange business, a subsidiary of Ledger, to an independent scale-up that has raised a total of nearly €50M with renowned French and international investors, including a European bank. Traditional financial players and equity investors are beginning to grasp the enormous potential of the crypto market, despite its cycles and jolts related to its potential innovation and youth. The future of financial services, payments and the Web3 will depend on the development of cryptos and therefore inevitably on the development of players such as Coinhouse who make them accessible and usable by all" explains Nicolas Louvet, co-founder and CEO of Coinhouse.
Benoît Claveranne, Chief Transformation & Development Officer of ODDO BHF, said, "We are looking forward to supporting Coinhouse, the French flagship of the crypto-asset ecosystem, in this new stage of their growth. We are convinced that blockchain technologies will redefine the contours of many industries, including finance."
Nicolas Priem, Managing Director & CIO of TIOGA, added: "We are delighted to support Nicolas and the Coinhouse team in their growth plan. We believe that Coinhouse, with its regulatory-first approach and expanded product offering, is uniquely positioned in Europe to facilitate the next wave of mass adoption of crypto-assets."
Alexis Du Peloux, Partner at XAnge Siparex, says: "Coinhouse is now on its way to becoming one of the European leaders with this raising of a new dimension. Nicolas and his team are participating in the rise of cryptos and will continue to take an active part in their adoption.”
Frank Desvignes, Partner at True Global Ventures, says: "TGV's vision is aligned with Coinhouse's: to develop a cryptobank model oriented around a quality support service and investment products addressing new customer segments (including family offices and corporates)."
About Coinhouse: Coinhouse is a Digital Asset Service Provider (DASP), a leading player in France for retail and corporate crypto asset investment. A French company founded in 2015, Coinhouse offers management and transaction services on 50 crypto-assets with 1% fees on crypto-crypto exchanges and a multilingual customer service accessible to all European investors.
About Coinhouse Custody Services: Coinhouse Custody Services is a Digital Asset Service Provider (DAP) registered with the Autorité des Marchés Financiers (AMF) in France and the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, specializing in highly secure custody services for institutional, corporate and HNWI clients.
Coinhouse Press Contacts
François Coën - 06 20 53 27 74
Chloé Rossignol - 06 23 08 11 90 presse@coinhouse.com
About ODDO BHF
ODDO BHF is an independent Franco-German financial services group, with a history stretching back over 170 years. It was created from the alliance of a French family-owned business built up by five generations of stockbrokers and a German bank specialising in Mittelstand companies. With 2,500 employees (1,300 in Germany and Switzerland and 1,200 in France and Tunisia), and more than 125 billion euros in assets under management, ODDO BHF operates in three main businesses, based on significant investment in market expertise: private banking, asset management and corporate and investment banking. The Group has a specific ownership structure as 65% of its capital is held by the Oddo family and 25 % by employees. This “partnership” ethos guarantees the long-term involvement of its teams. In 2020, ODDO BHF generated net banking income of 624 million euros, and at 31 December 2020, the Group had over 940 million euros of shareholders' equity.
Press contact
CITIGATE DEWE ROGERSON
Yoann Besse
+33 1 53 32 78 89
yoann.besse@citigatedewerogerson.com
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