Cryptocurrency exchange Blockchain.com has almost tripled its valuation to $14 billion following a new funding round led by Lightspeed Venture Partners, Bloomberg reported on 31 March.
According to the publication, Blockchain.com’s new funding round saw “major participation” from renowned investment management firm Baillie Gifford & Co. While the raised amount is yet to be announced — and funding round publicly confirmed by Blockchain.com or the investors — the company reportedly saw its valuation increase from $5.2 billion to $14 billion.
The previous funding round of Blockchain.com was held last March — with the Series C being co-led by DST Global, Lightspeed Venture Partners, and VY Capital — bringing the company $300 million at a valuation of $5.2 billion. A month later, the exchange secured an additional $100 million investment from Edinburgh-based Baillie Gifford & Co.
Founded in 2011, Bitcoin.com is one of the largest cryptocurrency companies on the market, offering its customers a wide range of services including an exchange platform, crypto wallet, institutional products, and more. According to its website, the exchange has more than 37 million verified users and over $1 trillion in total transaction value, and also claims to have one-third of all Bitcoin transactions pass through its platform.
Back in December, the company revealed it was preparing to launch its own non-fungible token (NFT) marketplace, and established a wait list for its beta version. In order to make the process of buying NFTs more straightforward, the company also said it was planning to add NFT functionality directly to its crypto wallet.