NYDIG raises $1 billion

Bitcoin financial services company NYDIG announced a growth equity funding round of $1 billion that will value the company at more than $7 billion. The round was led by WestCap, with participation from prior leads Bessemer Venture Partners and FinTech Collective, as well as strategic partners and existing investors Affirm, FIS, Fiserv, MassMutual, Morgan Stanley, and New York Life.

NYDIG, which offers bitcoin trading and custody, will use the capital to further develop its institutional-grade Bitcoin platform using recent upgrades to the Bitcoin protocol with capabilities such as Bitcoin and Lightning payments, asset tokenization, and smart contracts.

“The prospects for both NYDIG and Bitcoin have never been more exciting . Our roster of partnerships and strategic investors lays the foundation for NYDIG to become the leading provider of Bitcoin solutions for businesses in any industry, and this new equity capital will further accelerate progress towards making this exciting network accessible – and useful – to all.” – Robert Gutmann, co-founder and CEO of NYDIG.

“We are leading the investment round in NYDIG because of a shared belief in the industry-reshaping power of Bitcoin and WestCap’s conviction in the NYDIG team to continue to execute on the incredible opportunity in front of them. NYDIG plays a unique role in the industry, empowering companies of all types to incorporate Bitcoin in a secure and compliant way. We are proud to partner with Robby and his outstanding NYDIG team as they forge new paths to accessibility and further accelerate Bitcoin adoption.” – Scott Ganeles, Partner at WestCap.