Connect with us

Hi, what are you looking for?


Makor Group raises funds at $200 million valuation to expand crypto brokerage

Quick Take

  • Makor Group has raised $17 million, in part to fuel the growth of Enigma Securities, its crypto brokerage.
  • New strategic partners Algorand and Alan Howard invested in the round.

Makor Group, a brokerage and investment banking firm with a growing crypto business, has closed a Series A fundraise. The round values Makor at $200 million, according to a press release.

The press release did not specify how much money had been raised, but a person close to the firm said it had secured $17 million in equity capital. 

Makor’s new strategic partners include Algorand, a blockchain organization, and British billionaire Alan Howard, who both invested in the round. The company said it has also formed strategic partnerships with unnamed asset managers in the United States. In addition, Algorand’s CEO Steven Kokinos has joined Makor’s board.

Some of the cash will be used to expand Enigma Securities, Makor’s crypto brokerage subsidiary, which has recorded monthly trading volumes of more than $2 billion over the course of 2021. The funds will also be used to help Makor expand internationally and for acquisitions.

Makor said in its press release that it plans to take advantage of Algorand’s blockchain expertise to build and distribute digital assets, with a view to helping institutions access crypto products.

“We are witnessing an unprecedented shift in our industry powered by technology and innovation. Over the past year, the exceptional growth in our digital asset division has clearly demonstrated that we are at the forefront of this trend,” said Michael Halimi, co-founder and CEO of Makor, in a statement. 

Building a crypto empire

Former Brevan Howard boss Howard has been pouring vast sums of capital into the crypto sector in 2021. He has invested in a bevy of crypto startups, including Copper, Bullish Global, Bottlepay and Ledn, as well as in Dan Tapiero’s 10T fund and One River Digital Asset Management. 

Howard also owns a software business named Elwood Technologies, which helps banks and fintech firms to access crypto liquidity through an API.



Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...


Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...


Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...


Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...