Blockchain.com a UK-based cryptocurrency wallet provider backed by internet and technology group Alphabet and conglomerates Virgin and Access Industries, raised $300m in series C funding yesterday at a $5.2bn post-money valuation.
Venture capital firm Lightspeed Venture Partners and technology investment firm Vy Capital co-led the round with partners of investment firm DST Global. They were joined by undisclosed existing backers.
Founded in 2011, Blockchain.com offers a digital wallet where users can store cryptocurrency, in addition to an online digital currency exchange where they can buy and sell several cryptocurrencies.
Peter Smith, co-founder and chief executive of Blockchain.com, said: “Since 2011, the Blockchain.com team has been heads down, relentlessly focused on building a company at the intersection of cryptocurrency, institutions and (most importantly) people around the world.
“We continue to be honoured by the trust our consumer and institutional clients put in us each day. Over 31 million verified users in over 200 countries use our products, and we have seen a three-times increase in active users over the past 12 months alone.”
The latest round came just weeks after the company secured $120m from Alphabet subsidiary GV, Access Industries, Lightspeed Venture Partners, Moore Strategic Ventures, Rovida Advisors, Lakestar, Eldridge, Kyle Bass and undisclosed others at a reported $3bn valuation.
Blockchain.com had raised $40m in a 2017 round featuring GV, Virgin and its founder Richard Branson as well as Lightspeed Venture Partners, Nokota Management, Digital Currency Group, Mosaic Venture Partners and Prudence Holdings.
The company had previously received $30m in series A funding from Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Wicklow Capital, Future Perfect Ventures and individuals including Branson three years earlier.
