Blockchain.com Secures $110M in Latest Funding

Blockchain.com, a prominent player in crypto exchange and wallet services, recently secured a substantial $110 million in funding.

This Series E round, spearheaded by Kingsway, marks their continued support following their previous involvement in the company’s funding back in October 2022, as per Bloomberg’s report. The funding has been termed as “strategic financing,” emphasizing the deliberate nature of this backing.

Notably, earlier in 2022, Blockchain.com achieved a valuation of $14 billion during a funding phase, a fact highlighted by Bloomberg’s coverage.

However, the recent round led by Kingsway landed at “less than half” of that valuation, hinting at a potential decrease in valuation—a scenario previously speculated by Bloomberg.

The infusion of fresh capital takes Blockchain.com’s total raised funds to approximately $600 million since its inception in 2011, as per data available on Crunchbase.

This round also saw participation from Lightspeed Venture Partners, Coinbase Ventures, Lakestar, and Baillie Gifford, all contributing significantly. It’s worth noting that Lightspeed Venture Partners played a leading role in the earlier 2022 deal.

Baillie Gifford, recognized for their early support of Tesla, notably injected $100 million into Blockchain.com during the company’s $300 million Series C round back in 2021.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.