Talos Raises $45 Million In Series B Extension Funding

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Talos extended its Series B round with a $45 million raise, bringing the total Series B to $150 million at a post money valuation of approximately $1.5 billion. This follows the original $105 million Series B in 2022, reflecting sustained investor confidence amid growing institutional adoption of digital assets.

Talos, founded in 2018 by CEO Anton Katz and CTO Ethan Feldman, both veterans of Broadway Technology, provides institutional grade digital asset infrastructure. The platform supports the full trading lifecycle, including liquidity sourcing, price discovery, execution, settlement, and portfolio management through a unified interface or API. It connects institutions to exchanges, OTC desks, prime brokers, lenders, and custodians, serving buy-side firms, sell-side providers, and neobanks. Headquartered in New York, Talos operates globally with teams in 13 locations and has processed $727 billion in volume since inception, trading over 7,213 symbols. Client growth has surged 22 times from 2020 to 2025, with 60-70% of new clients from traditional finance in the past year.

Talos has raised approximately $196 million across multiple rounds, demonstrating steady progression from early stage validation to institutional scaling. The company’s valuation has increased from around $25 million post seed to $1.5 billion today.

This extension signals strong alignment with partners already using Talos’s tools, potentially fostering deeper integrations like Robinhood’s liquidity enhancements for retail crypto users. Sony’s involvement may tie into web3 and tokenized assets, while trading firms like IMC and QCP could boost liquidity provision. The use of stablecoins for settlement points to practical blockchain adoption in finance, reducing risks in 24/7 markets. However, Robinhood’s stock dipped ~2% on the announcement, as some investors view the valuation as stretched amid recent rallies.

Talos’s latest $45 million Series B extension elevates the company’s total Series B funding to $150 million and its post money valuation to approximately $1.5 billion, marking a significant milestone in the evolution of institutional digital asset infrastructure. This development builds on Talos’s trajectory since its founding in 2018 by Anton Katz and Ethan Feldman, who brought their experience from Broadway Technology to create a platform addressing the complexities of digital asset trading for institutions. The company has positioned itself as a comprehensive provider, offering tools for liquidity sourcing, direct market access, algorithmic execution, transaction cost analysis, reporting, clearing, settlement, and portfolio management, all through a single, institutional grade interface or API that connects to a vast ecosystem of providers. With operations spanning 13 global locations and a client base that has expanded 22-fold from 2020 to 2025, Talos now supports institutions managing roughly $21 trillion in AUM across 35 countries, processing $727 billion in volume and trading over 7,213 symbols since inception.

The funding history of Talos illustrates a deliberate scaling strategy, starting with a $6.05 million seed round in June 2019 at a ~$25 million valuation, backed by early crypto focused funds like Autonomous Partners and Castle Island Ventures. This was followed by a $40 million Series A in May 2021, led by Andreessen Horowitz and including traditional players like PayPal Ventures and Fidelity Investments, aimed at accelerating platform growth and institutional adoption. The initial $105 million Series B in May 2022, valuing Talos at $1.25 billion and led by General Atlantic, attracted a mix of fintech and crypto investors such as Citi, BNY Mellon, and Matrix Capital Management, funding expansions in prime brokerage, risk management, and global reach. The 2026 extension adds $45 million, incorporating new strategic investors while retaining core backers, and notably settling part of the investment via stablecoins, a practical demonstration of blockchain’s efficiency in large scale transactions. Cumulatively, these rounds total around $196 million, positioning Talos among top funded players in the digital asset infrastructure space.

Investor composition in this round highlights strategic synergies: Robinhood’s participation aligns with its crypto expansion, including its Arbitrum-based blockchain, tokenized stocks, staking, and perpetual futures, potentially leveraging Talos for enhanced liquidity and advanced features for its users. Sony Innovation Fund brings potential ties to entertainment and web3 applications, while IMC and QCP, as high frequency trading and liquidity providers, could deepen market making capabilities. Karatage, a deep tech believer, adds long term infrastructure support, and returning investors like a16z crypto, BNY, and Fidelity underscore ongoing commitment. Quotes from executives emphasize collaboration: CEO Anton Katz noted pride in partnering with clients-turned-investors to build next generation markets, while Robinhood’s Johann Kerbrat highlighted Talos’s adaptability for customer tools. Sony’s Kazuhito Hadano praised the platform’s institutional focus, and QCP’s Darius Sit viewed digital assets as evolving capital market rails.

The funds will prioritize expanding Talos’s suite, including RFQ platforms, risk tools, and settlement systems, to facilitate traditional assets’ shift to digital formats. This builds on recent growth drivers: annual doubling of revenues and clients, integration with BlackRock’s Aladdin for RFQ trading, and acquisitions like Coin Metrics (over $100 million for data), Cloudwall (risk management), Skolem (DeFi), and D3X Systems (portfolio engineering). Partnerships with Uniswap Labs and Fireblocks further enable DeFi liquidity for institutions.

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In the broader market, this round occurs amid recovering crypto volumes and institutional influx, with frameworks like the EU’s MiCA enhancing compliant platforms. Competitors such as Fireblocks (custody focused, raised $1.2 billion total) and Copper (prime brokerage, $500 million+ raised) vie for similar segments, but Talos differentiates through end to end lifecycle support and traditional finance integrations. Implications include accelerated bridging of retail (via Robinhood) and institutional crypto, potentially reducing fragmentation and enabling 24/7, low risk markets. Social media reactions on X (formerly Twitter) are largely positive, viewing it as “smart money building” infrastructure, though some note Robinhood’s stock dip amid valuation concerns. Long term, this could position Talos for further M&A or an IPO, contingent on sustained adoption and regulatory clarity.

The extension reinforces Talos’s leadership in a maturing sector, where evidence leans toward increased integration of digital assets into global finance, though volatility and competition introduce uncertainties.

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