While cryptocurrencies are seen as a short-term investment tool by some investors, they are seen as a retirement fund for some investors.
In this context, one of the companies that provides services for long-term investors is crypto individual. iTrustCapital, the retirement account platformis .
iTrustCapital, a platform that allows users to invest in cryptocurrencies through individual retirement accounts (IRAs), is in a Series A funding round. Raised $125 million.
In the statement made by the company, it was stated that the financing round was led by Left Lane Capital.
The iTrustCapital platform, which allows US-based investors to make cryptocurrency transactions, is currently available in addition to physical gold and silver. It also provides access to 25 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA).
Proceeds from the realized funding round will be used to expand ITrustCapital’s products and services, improve customer service and launch new marketing channels.
The company reported that it has a customer base ranging from 45-65 years old, and with the latest funding round, iTrustCapital’s valuation has risen to over $3.1 billion.
There is no explanation from the investors participating in the financing round, Left Lane Capital board member Matthew Miller said. “We are delighted to partner with iTrustCapital in providing access to cryptocurrencies through self-governing IRAs.” said.
iTrustCapital CEO Todd Southwick stated in an interview that the platform has approximately 27,000 funded accounts and aims to add 180,000 – 200,000 more accounts in 2022.