The company had previously raised $120 million in a “strategic round” in February 2021.
The news comes as bitcoin and other cryptocurrencies have started rising again after a long winter. Bitcoin surged over the weekend, hitting its highest level since Jan. 2, passing $47,000. Similar gains have been seen with other leading cryptocurrencies.
However, bitcoin still has a long way to go, since it was trading at about $67,000 as recently in early November.
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After raising an undisclosed amount in funding from several global VC firms, Blockchain.com’s valuation soars to a staggering $14 billion.
Blockchain Achieves Dreams Of High Valuation
The crypto exchange and financial services firm has had skyrocketed its valuation after securing an undisclosed amount in the latest Series D round of funding. The funding round has more than doubled the company’s valuation, indicating that crypto investors are pouring capital into this industry even during market turbulence.
Back in December, there were talks that Blockchain.com was seeking to raise around $400 million in its next Series D funding round, which would take its valuation to the $18 – $20 billion range. There seems to be some truth to the early reports.
It also was the first move made by the asset management firm in the crypto and blockchain tech space.
Blockchain.com CEO and co-founder Peter Smith had expressed his views regarding the investment,
“As one of their first investments in a crypto company, we’re honored to include them on our journey to bring the next 1B people into crypto. It’s also a validation that a balanced and diversified retail/institutional business has incredible growth potential in the coming years.”
Blockchain.com’s Previous Funding Rounds
However, the crypto exchange’s last significant funding round, i.e., itsSeries C funding, was held in March 2021 and was led by partners of DST Global Lightspeed Venture and VY Capital. Furthermore, there was additional investment from a number of global investors.
The raise more than doubles the previous value of the company.
Crypto exchange Blockchain.com reached a $14 billion valuation in a funding round led by Lightspeed Venture Partners, with “major participation” from Baille Gifford & Co, Bloomberg News reported on Thursday, citing the company. The amount raised wasn’t disclosed.
The U.K.-based company raised $300 million in March last year at a valuation of $5.2 billion, according the report. Lightspeed and VY Capital participated in that round.
In April, Edinburgh-based Baillie Gifford invested $100 million.
Blockchain said in 2021 it would move its U.S.
Even though the company could not secure the valuation it reportedly wanted, it has still successfully boosted its total valuation from its Series C level of $5.2 billion to a significant amount of $14 billion. However, as of the time of writing, neither Blockchain.com nor any of the investors have released a statement confirming or revealing the details of the latest deal.
Baillie Gifford Continues To Invest
Some of the leading investors participating in this funding were global venture capital firm Lightspeed Ventures and UK-based investment management companyBaillie Gifford & Co. The latter, renowned for being an early investor in Tesla, had already made a $100 million investment in Blockchain.com in April of 2021.
At the time, this was the single largest investment ever made in the company.
Cryptocurrency firm Blockchain.com Inc. is reported to have raised new funding at a valuation of $14 billion.
Bloomberg reported today that the round was led by Lightspeed Ventures with Baillie Gifford & Co, also participating. Neither Blockchain.com or the investors has yet confirmed the round publicly.
Founded in 2011, Blockchain.com is best known for providing cryptocurrency wallets and custodial services for tokens such as bitcoin, Ethereum and Litecoin for trading. The company also provides an exchange service that allows users to buy and sell certain types of cryptocurrency.
Blockchain.com’s cryptocurrency wallet is pitched as the easiest and most powerful wallet on the market.
The wallets can be used to buy and sell cryptocurrency in minutes, including the ability to buy bitcoin with a credit card, debit card or bank link.
Lightspeed Ventures, and Baillie Gifford & Co.
Blockchain.com, the cryptocurrency exchange, and financial services firm, has reportedly raised new funding at a $14 billion valuation.
According to Bloomberg, the latest funding round was led by the global venture capital firm, Lightspeed Ventures, and Baillie Gifford & Co., which is an investment firm renowned for its early involvement in growth stocks, such as Tesla (NASDAQ:TSLA).
Although not yet publicly confirmed by Blockchain.com or investors, the funding round reportedly saw the firm’s valuation increase more than $8 billion, from $5.2 billion to $14 billion.
Cryptocurrency exchange Blockchain.com has secured a Series D investment led by Lightspeed Venture Partners.
The exact amount of the investment was not disclosed, but the financing brought the exchange to a valuation of $14 billion.
Other investors include investment management firm Baillie Gifford & Co from Edinburgh, UK.
As reported by blockchain.News on August 31, 2021, the Luxembourg-based cryptocurrency exchange has now successfully processed over $1 trillion in transactions on its platform, which has been operating over the past decade.
Blockchain.com is one of the few crypto unicorns as it was valued at $5.2 billion following the $300 million it pulled from investors back in March 2021.
The company was moving its US headquarters from New York to Miami.
Linked to the service is a “rewards account” that offers users up to 13.5% in rewards.
On the exchange side, Blockchain.com supports three fiat currencies and throws in a matching engine “built by and for traders.” The service includes 24/7 live chat support and margin trading.
Blockchain.com also offers institutional services with a full-stack cryptocurrency platform that works with crypto-native businesses and institutional clients on lending, trading and custody solutions.
Currently, the company has 37 million verified users with 82 million wallets with more than $1 trillion transacted across its platform.
Blockchain.com last raised funding in March 2021. The Series C round, led by DST Global, Lightspeed Venture Partners and VY Capital, saw Blockchain.com raise $300 million on a $5.2 billion valuation.
The firm’s last major funding round prior to the Series C round took place back in March 2021, and saw the firm raise $300 million in Series C funding at a $5.2 billion valuation. The funding round was led by DST Global, Lightspeed Venture Partners and VY Capital.
In other news, Blockchain.com has joined the list of companies withdrawing from the UK Financial Conduct Authority’s (FCA) temporary register for cryptocurrency asset licensing.
The register outlines that firms must be approved under an anti-money-laundering (AML) scheme or cease trading by 31 March, 2022.
Blockchain.com withdrew its application on 29 March, 2022, opting to operate in Europe via a Lithuanian registration instead.