Blockchain.com Raises $300M in Series C Funding Round
- With the completion of the Series C funding round, Blockchain.com is now valued at around $5.2 billion.
- The newly acquired funds will be used to expand the firm’s team, and “aggressively expand” the products it offers to its customers.
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Crypto services provider Blockchain.com has raised $300 million in a Series C funding round, bringing the valuation of the firm to $5.2 billion, the firm said in a blog post on 24 March.
According to the announcement, the new funding round was led by DST Global, Lightspeed Venture Partners and VY Capital, and saw participation from many “leading investors” from around the world. The Series C round came only a month after Blockchain.com secured $120 million in a strategic growth round, which valued the firm at $3 billion at the time.
The newly acquired funds will be used to “aggressively expand” the products Blockchain.com offers to its customers — more than 31 million verified users in over 200 countries — and expand its employees and support for institutional businesses.
The CEO of the company, Peter Smith, said Blockchain.com has more than tripled its user base in the past 12 months, and that he expects the firm’s profits for 2021 to hit an all-time high. He further noted the firm had raised around $1.5 billion through debt and equity since it was first established in 2011. He said in a statement:
“I couldn’t be more proud of the team, I couldn’t be more optimistic about the future of Blockchain.com, our products, and our brand to meet this moment.”
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- The company gave Russian nationals until 27 October to withdraw all their assets from the platform, after which their accounts will be closed.