Crypto IRA platform iTrustCapital raises $125 million in Series A funding (via Yogita_Khatri5)
iTrustCapital has raised $125 million in Series A funding led by Left Lane Capital.
Left Lane Capital led the round. iTrustCapital capital did not disclose participating investors, but its senior vice president of investor relations, Kevin Maloney, told The Block that the firm had initially closed on $100 million from Left Lane Capital, but it had additional demand and ended up raising $25 million more from Left Lane and other investors.
The Series A round brings the valuation of iTrustCapital — which only launched its platform in July 2019 — to over $3.1 billion.Maloney said iTrustCapital has witnessed significant growth, increasing its revenue from $3 million in 2020 to more than $48 million in 2021. But iTrustCapital is seeing increased demand for its platform. Maloney said more than 120,000 new accounts have been created on the platform since its launch, with more than 25,000 active monthly users. The platform has thousands of working professionals in the 45 to 65 age range, while the average age of a crypto investor is typically between 21 and 35 years.
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