US-based cryptocurrency lending platform developer BlockFi received $18.3m on Tuesday in a series A round that included several corporate investors.
Trading firms Susquehanna International Group (SIG) and Akuna Capital were joined by marketing technology provider CM Group and blockchain software provider ConsenSys, which invested through its corporate venturing unit, ConsenSys Ventures.
The round was led by venture capital firm Valar Ventures and also featured Winklevoss Capital, Galaxy Digital, Avon Ventures, Morgan Creek and PJC.
BlockFi operates an online platform that allows cryptocurrency holders to borrow cash based on their holdings in digital currencies such as Bitcoin or Litecoin. It will channel the series A capital into developing additional products that can be added to its platform.
Akuna Capital led a $4m convertible debt round for BlockFi in December 2018, investing alongside SIG affiliate Susquehanna Government Products, CM Group subsidiary CMT Digital and Recruit Strategic Partners, a vehicle for human resources firm Recruit, as well as Galaxy Digital Ventures, Morgan Creek Digital and Devonshire Investors.
That funding came five months after the company collected $52.5m in a round led by Galaxy Digital Ventures that included ConsenSys and PJC. It received almost $1.6m in a February 2018 round backed by ConsenSys Ventures, online lending platform SoFi, PJC, Kinetic Capital, Purple Arch Ventures and Lumenary.