Coinbase, a fintech company working to power cryptoeconomy participation, announced its acquisition of onchain capital raising platform Echo in a deal worth approximately $375 million.
Following the company’s July acquisition of token management platform Liquifi, the Echo acquisition is expected to extend Coinbase’s support for early-stage teams into the fundraising sector.
The move will fuel the development of a full-stack solution to support crypto projects and investors by improving accessibility, transparency and efficiency across raising and investing.
With a mission centered around democratizing early-stage investing, Echo provides founders with tools for raising capital directly from their community, allowing them to set up a private token sale or leverage Sonar, Echo’s self-hosted public token sale product. Echo has helped complete approximately 300 deals and raise more than $200 million for crypto projects to date.
Coinbase plans to integrate Echo’s community-aligned fundraising tools for crypto builders and help investors take advantage of opportunities that would otherwise be unavailable to them. The focus will initially be on crypto token sales via Sonar, but Coinbase plans to expand to tokenized securities and real-world assets later.
