Crypto listing platform CoinList has concluded a $100 million Series A fundraiser to fuel its global business expansion, bringing its total valuation to a whopping $1.five billion.

The cash injection will help CoinList to scale its business operations, support its community of early adopters and launch new production offerings, the visitor announced on Tuesday. The fundraiser was co-led by venture funds Cohort and Agman, with boosted participation from Fenbushi Capital letter, DFG, CMT Digital, FBG Capital and others.

CoinList has seen its user base grow past 42 times over the past year, highlighting the massive adoption of cryptocurrency adoption worldwide. The platform is designed to help investors gain access to new token projects before they're listed on major exchanges such as Coinbase or Binance. Its biggest source of growth over the past year came from Turkey, Venezuela, Russia, Japan and the Britain. The company currently has four.5 one thousand thousand users across more than 170 countries.

The year 2022 has seen several crypto- and blockchain-focused companies earn the coveted unicorn status — a term that describes startups with a valuation of $1 billion or more. South American cryptocurrency exchanges Bitso and Mercado Bitcoin became members of the exclusive lodge earlier this year, while derivatives platform FTX became a "decacorn" with a valuation of $18 billion. As Cointelegraph recently reported, NFT company Candy Digital also concluded a $100 million Series A funding round recently, bringing its total valuation to $1.5 billion.

Related: Ethereum competitor Nearly launches $800M programmer fund as DeFi competition heats upwards

Venture funds accept poured billions of dollars into crypto startups this year, as smart money investors continue to back emerging projects that could reshape the global financial system. Earlier this year, Silicon Valley venture business firm Andreessen Horowitz announced that information technology had allocated $ii.two billion to fund emerging crypto projects. Concluding week, venture capital firm Galaxy Interactive confirmed that it had raised another $325 million from 70 investors to back new portfolio companies.