Blockchain.com raises $300 million Series C, now valued at $5.2 billion

Mar 24, 2021 | The Block News | 0 comments

blockchaincom-raises-$300-million-series-c,-now-valued-at-$5.2-billion

Crypto firm Blockchain.com has raised $300 million in Series C funding at a post-money valuation of $5.2 billion.

The round was led by DST Global, Lightspeed Venture Partners, and VY Capital, with participation from other existing investors.

The Series C comes just a month after Blockchain.com raised $120 million from a group of macro investors in February.

With the fresh capital at hand, Blockchain.com plans to “aggressively expand” its products and services, grow its global team, as well as pursue merger and acquisition opportunities, said CEO Peter Smith.

The firm currently offers crypto wallets, as well as trading and other services for retail and institutional investors.

Smith said Blockchain.com is already “highly profitable” across its product lines but believes that new investors will help support its growing business. The firm surpassed all of its 2020 contribution margins in the first two months of 2021, said Smith.

Blockchain.com claims to have over 31 million verified users in over 200 countries and says it has seen a 3x increase in active users over the past 12 months.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

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