Digital asset infrastructure provider Taurus has raised $65 million in a Series B funding round as it looks to further develop its platform and boost its international expansion efforts.
The Series B was led by investment banking giant Credit Suisse and saw participation from Deutsche Bank, Pictet Group, Cedar Mundi Ventures and Arab Bank Switzerland, as well as real estate group Investis.
Deutsche Bank, Arab Bank Switzerland and Pictet are all clients of Taurus, which currently claims to work with more than 25 financial institutions and corporate clients, including financial institutions, retail and online banks, private banks, crypto-banks, investment banks and broker-dealers.
Founded in 2018 and headquartered in Switzerland, the start-up provides digital asset infrastructure that enables businesses to issue, custody and trade digital assets including cryptocurrencies. It also operates a regulated marketplace for private assets and tokenised securities.
The funds will be used to support Taurus’ growth strategy across three priorities: hiring engineers to develop its platform; expanding its sales and customer-facing footprint with offices in Europe, the UAE, the Americas and Southeast Asia; and shoring up its security, risk and compliance requirements.
Lamine Brahimi, co-founder and managing partner of Taurus, says the $65 million funding, given the current market environment, reflects favourably on the firm and its products.
Jean-Philippe Aumasson, co-founder and chief security officer (CSO) at Taurus, says the firm is the only company “to have built an end-to-end infrastructure while controlling the full technology stack including blockchain-specific protocols, as well as HSM and MPC technologies”.
“This strategic advantage allows Taurus to execute faster than others, without the dependency and risk associated with third-party providers.”