Crypto-asset broker Voyager Digital raises $100 million funding by closing a private placement

Voyager, a crypto-asset broker that provides retail and institutional investors with a trusted and secure access point to crypto asset trading, announced today it completed its previously announced private placement in the amount of $100 million.

A private placement is a funding round of securities that are sold not through a public offering, but rather through a private offering, mostly to a small number of chosen investors. Generally, these investors include accredited investors and institutional investors.

According to Voyager, the private placement includes common shares of approximately US$100,000,000 at a price of US$13.10 per share (equivalent C$17.00 per Share). Voyager said it plans to use the net proceeds from the Offering for general corporate purposes. The Offering was led by Stifel GMP, as sole agent and book-runner.

Voyager is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers the best execution and safe custody on a wide choice of popular crypto-assets. In January 2020 alone, Voyager reported that its revenue exceeded $8.5 million and assets under management surpassing $800 million as of February 4, 2021.

Voyager was founded in 2017 by established Wall Street and Silicon Valley entrepreneurs and veterans who teamed to bring a better, more transparent, and cost-efficient alternative for trading crypto-assets to the marketplace. Its founders, Gaspard de Dreuzy, Oscar Salazar, Philip Eytan, Serge Kreiker, Stephen Ehrlich, also have combined decades’ worth of experience from leading organizations like E*TRADE, Uber, TradeIt, Lightspeed Financial, and more.

Commenting on the offering,  Stephen Ehrlich, Co-founder and CEO of Voyager, said:
“We welcome our new investors to Voyager and are well-capitalized to continue to grow our platform exponentially. This additional capital will allow Voyager to execute on the Company’s growth strategy including new user growth, international expansion, and new product introductions. We’re building out our team, scaling our platform, and onboarding new users at record rates.”

Ehrlich added: “We are well on our way to achieving our goals by educating individual investors about creating wealth through cryptocurrencies by offering over 50 digital assets with 22 bearing interest, all on a commission-free and easy to use platform.”