Big money! Blockchain.com has just raised $300 million in a funding round that valued the company at an astonishing $5.2 billion. This being 73% more than what the firm was deemed only a month ago.
The Wall Street Journal has the lowdown on this latest fundraising in the company headquartered in London. The investment was led by DST Global, Lightspeed Venture Partners, and VY Capital — a sign that venture capital firms are once again diving into the crypto space.
And what’s even more impressive is that this news comes a month after Blockchain.com raised $120 million in a round led by Google Ventures.
In that round, the company was valued at $3 billion.
Blockchain.com offers wallets, trading, and a whole bunch of other crypto related services to its 31 million customers. The company claims that it has over 70 million wallets that are spread across more than 200 different countries.
The firm not only offers retail trading, but also a range of services for professional investors like credits, structured products, trading and custody.
According to Chief Executive Peter Smith, Blockchain.com has raised $1.5 billion between debt and equity since its inception in 2011 — a significant amount for a crypto company, making it one of the more valuable operations in the crypto domain.
This latest capital raise is the third-largest in the short history of the industry, according to research firm CB Insights. In 2108, Bitmain Technologies raised $400 million, BlockFi raised $350 million earlier this year, and Bakkt raised $300 million in 2020.
Big money, indeed.
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