Blockchain.com Valued at USD 5.2B As It Raises USD 300M
London-based major crypto firm Blockchain.com raised USD 300m in an investment round that gave the company a USD 5.2bn valuation.
In a March 24 announcement on the company’s website, CEO Peter Smith said that their Series C round was led by partners of DST Global, Lightspeed Venture Partners, and VY Capital, as well as with participation from other existing and leading investors from across the world.
This round follows the USD 120m strategic growth round announced in mid-February, which was led by a number of macro investors. The company said that the new partners “who have experience in supporting companies during times of hyper growth — are the perfect complement to our recent addition of some of the best macro investors like Louis Bacon and Kyle Bass.”
Smith added that over 31m verified users from over 200 countries use the company’s products, while they’ve also seen a 3x increase in active users over the past 12 months. Furthermore, Blockchain.com is “highly profitable across each of our business lines,” it added, having surpassed all of 2020 contribution margin in the first 2 months of 2021.
Blockchain.com plans to “aggressively expand” the products they offer, Smith said, as well as grow their global team and pursue M&A opportunities.
Per The Wall Street Journal, this deal “highlights venture capital’s growing willingness to jump back into the bitcoin frenzy.”
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(Updated at 17:18 UTC with a video.)