Crypto financial services provider Blockchain.com announced Wednesday that the company had raised $300 million in a funding round. Blockchain.com’s latest funding round follows the company’s receipt of $120 million last month.
Blockchain.com is now valued at $5.2 billion.
The 24th. In March, Blockchain.com CEO Peter Smith announced that the company was pleased to announce a new Series C funding round. The company raised $300 million from investors, and Blockchain.com’s valuation rose to $5.2 billion after the money was paid out. On Wednesday, Smith said the funding was provided by partners including VY Capital, Yuri Milner’s DST Global and Lightspeed Venture Partners. According to Smith, the company has grown significantly in the past year and now has 31 million verified users in 200 countries using Blockchain.com services.
In the last 12 months alone, we’ve seen a tripling of active users, Smith said at the announcement. Smith said the new round follows securing $120 million for strategic growth of the company.
While Blockchain.com is highly profitable in each of our businesses (exceeding all 2020 contribution margins in the first 2 months of 2021), Smith said. We believe that our new partners, who have experience helping companies through periods of hyper-growth, are an ideal complement to our recent additions of leading macro investors such as Louis Bacon and Kyle Bass. With Jim Messina joining our board of directors, we are poised to become a leading company and a global brand, the Blockchain.com CEO added.
Crypto financial services providerplans aggressive expansion ofproducts
The new board member, Jim Messina, is known for his work as deputy White House chief of staff during the first term of the Obama administration. Since 2011, the Blockchain.com team has worked neck and neck and focused relentlessly on building a business at the intersection of cryptocurrencies, institutions and (most importantly) people around the world, Smith continued.
Smith also said the funds will help strengthen the company’s vision and that the team plans to aggressively expand the products we offer our customers. Blockchain.com offers a license-free wallet, data blockchain and crypto-currency exchange platform. Blockchain.com is looking to] grow its global team and take advantage of merger and acquisition opportunities to bring exciting new products and ideas to the company, Smith said.
What do you think about Blockchain.com getting $300 million from investors? Let us know what you think in the comments below.
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