Blockchain.com, a major cryptocurrency platform, has seen its valuation cut in half during its latest $110 million Series-E funding round.
Key Takeaways
- Blockchain.com, a UK-based crypto company, has secured $110 million in its latest Series-E funding round, led by venture capital firm Kingsway Capital.
- The company’s valuation in this funding round is reported to be less than half its previous valuation of $14 billion, although the exact valuation was not disclosed.
- Other participants in the funding round include Baillie Gifford, Lakestar, Lightspeed Venture Partners, and Coinbase Ventures.
- Following this round, Blockchain.com has added Manny Stotz, Founder and CEO of Kingsway, and Nicolas Brand, Partner at Lakestar, to its board.
Blockchain.com’s Funding Round
Blockchain.com secures $110 million in its latest funding round led by Kingsway Capital, with participation from other prominent investors.
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The company’s valuation in this round is reported to be less than half its previous $14 billion valuation, but the exact figure is not disclosed.
Participating investors in the funding round include Baillie Gifford, Lakestar, Lightspeed Venture Partners, and Coinbase Ventures.
Board Additions
Blockchain.com adds Manny Stotz, Founder and CEO of Kingsway, and Nicolas Brand, Partner at Lakestar, to its board of directors.
Blockchain.com has grown from a crypto wallet platform to a major player in the crypto industry, with a significant share of Bitcoin transactions and millions of verified users.
To Conclude
Despite facing some setbacks, including a significant exposure to the collapsed company 3AC and staff layoffs, Blockchain.com continues to expand its global reach and obtain regulatory approvals in various jurisdictions.
