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True Global Ventures continues to invest in Coinhouse to promote cryptobank model in Europe

The leading French company Coinhouse is looking to expand with True Global Ventures’ international footprint by tapping on external growth opportunities

True Global Ventures 4 Plus (TGV4 Plus) Fund has joined the  €40 million euros fundraising round into Coinhouse to accelerate growth and and scale of the cryptobank model in Europe.

Coin House is the French pioneer in investing in crypto-assets, and it operate with the bank ODDO BHF and other investment funds Tioga Capital, XAnge Siparex Innovation, Raise Ventures, CF Partners, ConsenSys, Expon Capital as well as several renowned families and French business leaders.

"This fundraising will accelerate Coinhouse's service offering development to individuals and businesses in Europe," TGV4 Plus said in a statement.

Coinhouse has quadrupled its workforce in less than two years and is positioning itself as the first support platform for individuals and companies, allowing them to simply invest in around fifty crypto-assets as well as in crypto savings management products.

Through its consumer mobile application and its unique crypto private banking service in Europe, Coinhouse stands out by offering a transparent service offer adapted to everyone. It includes a customer service composed of crypto experts, open to all, based in Paris, multilingual and accessible by email and telephone.

In addition, a team of account managers and experts dedicated to corporate clients, unique crypto savings management products, such as the crypto booklet and piloted management, a crypto custodian offer for institutional investors and major accounts are also part of the service.

At the same time, the crypto-assets French Leader is continuing its strong growth by diversifying its service offer to meet the needs of new customers in this still emerging market.

Since the beginning of 2022, Coinhouse has been opening up to the world of crypto payments, and to brands and merchants wishing to deal with Web3 (an internet based on decentralisation and ownership). As a digital asset service provider registered in France and Luxembourg, Coinhouse has supported more than 20 major French and international brands by enabling them to securely acquire and hold land in Metaverses, or to accept crypto payments converted immediately into euros selling digital objects or NFTs, without having to manage the complexity of a portfolio or the accounting management of volatile assets.

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This 40 million euros fundraising will allow Coinhouse to:

• Develop its crypto asset management activity, beyond existing products

• Make payment in crypto accessible and intuitive for both individuals and businesses

• Accelerate its international expansion and tap on external growth opportunities

• Facilitate the development of Web3 by simplifying transactions and the management of digital assets

Tremendous performance

“I am proud of our team and the progress made in 5 years. We have gone from 5 employees to more than 100, from a crypto exchange activity, a subsidiary of Ledger, to an independent scale-up which has raised a total of nearly €50 million with renowned French and international investors, including a European bank," said Nicolas Louvet, co-founder and CEO of Coinhouse.

He said traditional players in the financial world and capital investors are beginning to grasp the enormous potential of the crypto market, despite its cycles and upheavals linked to its innovation potential and its youth.

"The future of financial services, payments and Web3 will go through the development of cryptos and therefore inevitably through that of players such as Coinhouse who make them accessible and usable by everyone” he said.

Frank Desvignes, partner at True Global Ventures, said: "In the current market environment, True Global Ventures is seizing the opportunity to re-invest in Coinhouse to accelerate the development of the crypto banking model in Europe oriented around a service of quality support and investment products aimed at new customer segments, including family offices and businesses.”

With the recognition of blockchain use cases in financial services, TGV4 Plus continues to invest in talented serial entrepreneurs leading globally ambitious blockchain start-ups. The fund is dedicated to blockchain companies, primarily in late-stage Series B and C across four verticals: Entertainment, infrastructure, financial services, data analytics, and Artificial Intelligence.

Founded by an international group of “super angels”, TGV’s partners are entrepreneurs, business angels, family offices, and institutional investors, many with co-investment rights in future equity rounds.