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.