Asset management firm Baillie Gifford has contributed up to $100m in series C funding for Blockchain.com, a UK-based, corporate-backed cryptocurrency software developer, the latter revealed on Tuesday.
The cash forms part of a $300m series C round disclosed last month valuing the company at $5.2bn. It was co-led by partners of DST Global, Lightspeed Venture Partners and Vy Capital and also featured undisclosed returning backers. No DST Global funds were used, its spokeswoman said.
Blockchain.com has built a virtual currency wallet covering protocols including Aave, Bitcoin, Ethereum, Polkadot and Yearn Finance. Users can exchange, buy and sell cryptocurrencies on the platform.
The company had previously received $120m in February 2021 from GV, a corporate venturing subsidiary of internet technology group Alphabet, as well as conglomerate Access Industries, Lightspeed Venture Partners, Moore Strategic Ventures, Rovida Advisors, Lakestar, Eldridge, Kyle Bass and unnamed others, valuing it at $3bn.
Conglomerate Virgin and its founder Richard Branson joined GV, Lightspeed Venture Partners, Nokota Management, Digital Currency Group, Mosaic Venture Partners and Prudence Holdings in a $40m round for Blockchain.com in 2017.
Lightspeed, Mosaic, Prudence Holdings, Wicklow Capital, Future Perfect Ventures and angel investors including Branson had all participated in the company’s $30m series A round in 2014.
Editor note: updated to clarify on relation to DST.