Symphony, a secure messaging app that counts 15 of the world’s biggest banks among its investors and 200,000 paying customers, has raised a new tranche of funding to fuel its expansion into new markets. Symphony has closed in on $63 million; and according to sources close to the company, the startup is now valued at over $1 billion — confirming our reporting from December.
This new round adds another strategic investor, the French bank BNP Paribas, which led the round and is taking a seat on Symphony’s board. A majority of Symphony’s existing shareholders also participated in the round, the company said. That group includes Google, Lakestar, Natixis, Societe Generale, UBS, and Merus Capital, and a consortium of 14 of the world’s largest investment banks and money managers, including Bank of America, BlackRock, Citibank, Deutsche Bank, Goldman Sachs, HSBC, and JP Morgan. The company has now raised $229 million.
While the valuation confirms the figure we published in December last year in an article about the company’s latest fundraising efforts, that story also noted that Symphony had been looking to raise up to $200 million, and that the round was likely to include investors out of Asia, specifically Singapore.
Today, a spokesperson declined to comment on that report. She also declined to say whether this is a new Series of funding, or whether Symphony is extending a previous round.
“We get a lot of interest and conversations are always ongoing,” she said. “At this point we feel like we are well funded.” She described BNP Paribas as a “strategic investor — one reason why we wanted them.”
“Digital transformation is central to BNP Paribas Global Markets’ strategy, and collaboration with…