Blockchain.com Hits $14 Billion Valuation in New Funding Round
- Blockchain.com has reportedly raised new financing in a recent funding round.
- An undisclosed amount in funding has been received from global VC firms.
- The round was led by Lightspeed Ventures and Baillie Gifford & Co.
Cryptocurrency and financial services startup Blockchain.com has reportedly raised new funding that has sent the firm’s valuation up by over 160%.
More Funding, Pumping Capital
A recent Bloomberg report stated that Blockchain.com had raised new funding that values the company at close to $14 billion. This funding round more than doubled the financial services provider’s worth, indicative of capital flowing into crypto firms by investors even amid turbulent markets.
Blockchain.com raised an undisclosed amount in funding from global VC firms. The financing round was led by global venture capital firm Lightspeed Ventures and Baillie Gifford & Co. Baillie Gifford & Co, an investment management firm renowned for its early involvement in growth stocks such as Tesla.
However, Blockchain.com or the investors haven’t officially confirmed the funding round. According to reports, the recent funding reportedly saw the firms’ valuation shoot from $5.2 billion to $14 billion. The total amount of financing raised remains undisclosed for now.
Exchanges Bagging Fundings
Recently, Pantera Capital-backed African crypto exchange VALR.com in its latest funding round, valuing the company at $240 million. Of late, exchanges bagging VCs and other high-profile investors have been a relatively common occurrence.
Blockchain.com was in the news in April 2021 after securing a $100 million investment from Baillie Gifford & Co. The funding secured by the firm in April last year was the single largest investment ever made in the company at that time.
Blockchain.com’s last significant funding round was in March 2021. The Series C round saw the firm raise $300 million at a $5.2 billion valuation. DST Global, Lightspeed Venture Partners, and VY Capital led the March funding round. Before that, the firm raised $120 million from various VC firms, with the financing primarily aimed at institutional business development.
Blockchain.com offers blockchain-based financial services from its exchange platform and crypto-wallets. The firm was founded in 2011 and had close to 37 million verified users with 82 million wallets and over $1 trillion in total transaction value across its platform.