Citi, Wells Fargo and BNY Mellon Back Talos in $105M Series B

Talos, a leading institutional technology provider for digital asset trading, has raised $105 million in a Series B funding round.

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The funding brings Talos' value to $1.25 billion, with General Atlantic as the lead investor, alongside new investors like Citigroup, Wells Fargo Strategic Capital, BNY Mellon, DRW, SCB 10x, Stripes, Voyager, as well as existing investors, including Andreessen Horowitz (a16z), PayPal Ventures, Castle Island Ventures and Fidelity Investments .

The New York based fintech was co-founded by Anton Katz and Ethan Feldman in 2018, and experienced a rapid expansion period in 2021, during which it hired several executives, including Samar Sen, a former senior role in Deutsche Bank, Goldman Sachs and Barclays, as Head of Asia-Pacific. Meanwhile, Talos announced plans to open a Singapore office at the end of 2021, with proposes to expand into Asia.  

Financial investment giants have been increasingly investing in crypto in recent years. Last month alone saw Citigroup's participate in a Series C round for Blockdaemon​, a blockchain infrastructure provider, and BNY Mellon leading a Series C round for Coin Metrics​, a cryptocurrency service provider.