Circle Internet Financial was founded in 2013 by Jeremy Allaire and Sean Neville. The company has disclosed plans to go public through a SPAC merger, but in 2022 the company pushed the date back, citing “a variety of reasons outside the parties’ control.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Circle Internet Financial is a platform that allows users to store, send, and receive payments in both traditional currencies and crypto currencies. Since 2017, Circle has acquired Trigger Finance, Poloniex, and SeedInvest. The company also runs Circle Trade, a platform designed for large-scale cryptocurrency investors and exchanges. Circle Trade has raised over $700 million in funding from investors including Bitmain, Tusk Ventures, IDG Capital Partners, Willett Advisors LLC, and Valor Capital Group. In 2021, the company announced a private equity round that brought in $440 million. Along with the revised SPAC timeline, Circle reports to have doubled their valuation to $9 billion.