KuCoin Hits $10B Valuation Amid Fintech Funding Spree

By Elise Hansen (May 10, 2022, 8:11 PM EDT) -- Cryptocurrency exchange KuCoin led a string of new capital raises in the financial technology space Tuesday, with the Seychelles-based exchange hitting a $10 billion valuation.

KuCoin said it raised $150 million in a "pre-Series B" round that it will use to add more products and invest in blockchain startups. It was one of several financial technology companies to announce major financings on Tuesday despite the recent downturn in cryptocurrency markets and U.S. technology stocks.

Paddle, a London-based payments company for software companies, said it raised $200 million; Talos, a digital asset trading technology company, announced a $105 million raise; and non-fungible...

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