October 2, 2022

Funding Alert: Blockchain.com Raises $300M in Series C Funding Round

2 min read

Crypto lending

Blockchain.com, a crypto wallet, and exchange platform has raised$300 million in a Series C financing round taking their general appraisal to$ 5.2 billion. The financing round was led by DST Global, Lightspeed Venture Partners, and VY Capital together with several existing investors. The recent fundraising by the crypto firm was likewise the third-largest in the crypto world, only behind Blockfi which raised $350 million just a number of weeks earlier, and Bitmain that raised $400 million back in 2018.

Blockhain.com’s assessment has grown by more than $2 billion in just over a month increasing from $3 billion in February to $5.2 billion today. The crypto platform plans to utilize the capital to expand its services and labor force to stay up to date with the growing demand for crypto services in 2021.

Peter Smith CEO and Co-Founder of Blockchain.com in a post wrote,

“We continue to be honored by the trust our customer and institutional customers put in us every day. Over 31M confirmed users in over 200 nations utilize our items, and we’ve seen a 3x boost in active users over the previous 12 months alone.”

He added,

“With one of the most considerable balance sheets in the market, we plan to strongly expand the products we offer our consumers, grow our global group, and pursue M&An opportunities to bring interesting brand-new items and concepts into the business.”

The recent multitude of high assessment fundraise by crypto firms is an indication of growing crypto need in the market. The crypto financing has actually dipped from $4.5 billion in 2017 to just over $2 billion in 2020 due to the extended winter market. However, 2021 could shatter all previous records as crypto companies appear to be the most popular item in the financial market. Apart from a couple of high-value fundraise by crypto firms, numerous including Coinbase and Bakkt are likewise going public this year. Coinbase is set to debut with a $100 billion appraisal.

Blockchain.com Considering Going Public?

The competitors of Series C funding round put Blockchain.com among the top tier crypto business therefore raising the essential question of their public debut. Smith said that the firm is currently carefully following the Coinbase Nasdaq listing which was just recently held off due to CFTC examination versus the exchange.

The post Funding Alert: Blockchain.com Raises $300M in Series C Funding Round appeared initially on Coingape.