Canadian Crypto Platform Newton Raises $20M Round at $200M Valuation

Canadian crypto trading platform Newton has raised a $20 million Series B funding round at a valuation of around $200 million.

• The Series B was led by partners from DV Chain, Newton said on Wednesday. Asset manager CI Financial also participated in the round, along with Singh Capital Partners, Anthony Pompliano, Tiny Capital and Snowdevil Capital (founded by Shopify co-founder Tobias Lutke).

• Newton is a crypto platform that offers over 60 crypto assets to traders in Canada. It has filed an application for registration as a restricted dealer with the Ontario Securities Commission (OSC) and the securities regulatory authorities in all other provinces and territories of Canada.

• The firm will use the funds to develop its platform and infrastructure, as well as for other general purposes.

• CI Financial, which has assets under management of around $304 billion, said in a separate press release that the Series B was completed on Feb. 4.

• Last year, CI Financial's subsidiary CI Global Asset Management became the world's first company to offer both mutual funds and exchange-traded funds (ETF) offering direct exposure to bitcoin and ether.

Read more: KPMG Canada Adds Crypto to Its Balance Sheet