Xclaim Raises $7 mn After Crypto Rebrand
On Tuesday, Xclaim, a marketplace where debtors can sell bankruptcy claims for failed crypto companies, announced a $7 million funding round led by Josh Jones, a venture capitalist who founded one of the first Bitcoin exchanges.
Xclaim’s founder and CEO, Matthew Sedigh, declined to provide his company’s implied valuation or name other participants in the funding. He did say that many of the bankruptcy marketplace’s earlier investors, such as General Catalyst, First Round Capital, Freestyle Capital, and Tribe Capital, participated in the Series A investment round.
Xclaim has raised approximately $12 million in total, including earlier seed rounds, according to Sedigh. He intends to use the capital injection to expand Xclaim’s website, products, and hire more employees.
(With inputs from Shikha Singh)
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