Avanti Secures $37 Million in Series A Funding to Launch a Digital Asset Bank

US-based financial services provider Avanti Financial Group recently announced that it has raised $37 Million in a Series A funding round, with participation from several family offices, institutional investors and cryptocurrency companies as well as multiple Avanti executives and directors. 

The provider highlighted the participation of several institutional investors in the Series A funding round, including 1843 Capital, AP Capital, Banca del Ceresio, Binance US, Coinbase Ventures, ECMC Group, Equity Management Associates, Greybull Stewardship, Hard Yaka, HashKey, Holon Global Investments, Lemniscap, Madison Paige Ventures and Morgan Creek Digital.

According to the official announcement, the company will use the investment to fund Avanti's required regulatory capital needed for launch, as well as to fund engineering build and other operating expenses. So far, Avanti has obtained a total of $44 million since its inception.

Commenting on the latest funding round, Caitlin Long, founder and CEO at Avanti, stated that they thank their investors for helping Avanti build a new breed of bank that services Bitcoin and also offers meaningful API capabilities for U.S. dollar transactions to tech-savvy customers. The company also plans to offer API-based U.S. dollar payment services for wires, ACH and SWIFT; issuance of tokenized, programmable U.S. dollar called Avit™*; and custody and on-/off-ramp services for bitcoin and other digital assets.