Blockchain.com secures $300 million funding; reaches $5.2Bn valuation

Blockchain.com secures $300 million funding; reaches $5.2Bn valuation

The escalating trend of cryptocurrencies and digital money has eventually turned about to be a profitable deal for various crypto companies. Following this success ratio, Blockchain.com, a U.S based leading cryptocurrency firm, has recently announced raising USD 300 million funding in Series C round. This financing adds to the company’s recent funding, about USD 120 million, raised last month.

Apparently, the company has now reached a post-money valuation of USD 5.2 billion in total, including the latest funding round. Reports have it that Series C round was led by VY Capital, DST Global, and Lightspeed Venture Partners, while also recording participation from some of the company’s existing investors.

In fact, Blockchain.com’s CEO, Peter Smith, has also put forth statements that the new funding influx would enable the company to work closely with last-stage investors to allow it to thrive in the upcoming years. He also mentioned that the public can now expect some Blockchain.com mergers and acquisitions in the upcoming years, demonstrating the firm’s growth potential.

Originally regarded as Blockchain.info, the company initially launched a blockchain explorer which enabled people to enter the hash of any transaction that occurs on blockchain to get access to more information and data. Through this data mining, the user can retrieve the transaction amount, wallet address of the receiver and sender, number of confirmations, and others.

It has been reported that Blockchain.com has branched out its activities over time now. The company, in this regard, has introduced an exchange which allows the global population to trade cryptocurrencies from the site directly. It would be essential to note that Blockchain.co, also provides services to institutional investors.

For the record, the company already boasts of 31 million users, who have verified their identities on the site. Additionally, the count of active users has dramatically grown by three times over the past one year.

Source Credit: https://techcrunch.com/2021/03/24/crypto-wallet-and-exchange-company-blockchain-com-raises-300-million-at-5-2-billion-valuation/