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Blockchain.com raises impressive $300 million in funding

Photo of: Joseph Stone
by Joseph Stone

The crypto service provider isn’t planning to sit on the sidelines. Blockchain.com announces a $300 million Series C funding round. The firm has tripled its number of active users in 12 months.

Coinbase will go public next month. The American exchange could reach a valuation of $100 billion. In Europe too, crypto experts are getting stronger. Bitpanda became a unicorn.

Another European player is responding: Blockchain.com. One month after a $120 million fundraising, the crypto service provider announces a new operation. And so it welcomes new investors.

Blockchain.com raises this time 300 million dollars. This new round of funding allows him to claim a valuation of $ 5.2 billion. A month earlier, it was $3 billion.

This fundraising is led by DST Global, Lightspeed Venture Partners and VY Capital. This is the 3rd most significant by value in the crypto industry. The top spot still goes to Bitmain with $400 million in 2018.

However, does the crypto market continue to attract so many investors? Since 2018, the numbers might give a contrary feeling. As the Wall Street Journal recalls, the sector was attracting $4.5 billion in capital at the time.

By 2020, it was down to $2.7 billion. Not to worry Blockchain.com however. Indeed, the firm says it is “very profitable in each of its business lines”. And customer growth is strong.

The British player has “more than 31 million verified users in over 200 countries”. In addition, “the number of active users has tripled in the last 12 months”. And its leaders intend to continue on this trajectory.

Peter Smith, co-founder and CEO of Blockchain.com, says the company will continue to expand its product portfolio, hire new employees, and make acquisitions.

The executive claims “one of the most significant balance sheets in the industry” and displays optimism. “I couldn’t be prouder of the team, I couldn’t be more optimistic about the future of Blockchain.com, our products and our brand,” he concludes.