Meet Vijayawada-born founder Raghu Yarlagadda whose American crypto brokerage platform FalconX has touched $8 billion in valuation despite a slump in crypto market globally
Raghu Yarlagadda, co-founder and CEO of FalconX
Quite early in his life, Raghu Yarlagadda had ample clarity on what he wanted to do. “I wanted to build products which had immense value, had massive impact and could make a dent in the universe,” says co-founder and chief executive officer of FalconX, one of the largest and fastest growing digital asset brokerages based out of the US, with offices across Silicon Valley, Chicago (US), Malta and Bengaluru (India). In June, FalconX more than doubled its valuation to $8 billion when it raised $150 million in Series D of funding led by GIC and B Capital. While the round saw participation from existing investors such as Thoma Bravo, Wellington Management, Adams Street Partners and Tiger Global Management, FalconX already had a long list of marquee backers such as Accel, Altimeter Capital and American Express Ventures.
For a startup founded in 2018, the CEO of crypto brokerage and digital asset trading platform for institutional investors has indeed managed to achieve three things that he wished for in his school and college days. First is the value. Yarlagadda’s four-year-old digital assets trading platform, for sure, is valuable to VCs. Valuation of FalconX has pole-vaulted from $3.75 billion last August to a staggering $8 billion now.