One of the largest crypto financial service providers, Blockchain.com, has announced that it has raised new funds, bringing the company’s value to around $14 billion.
Blockchain.com doubles its value
According to a Bloomberg report, Blockchain.com said the new funding values the company at $14 billion, more than double its value, and puts the company in the list of most valuable crypto companies. This is a clear indication that crypto firms are still in massive investor favor in the turbulent venture capital markets.
The funding round, led by Lightspeed Venture Partners, saw major participation from Baillie Gifford & Co.
The constant growth
Blockchain.com, which was founded in 2011, enables its 37 million verified users to buy and store cryptocurrencies. In April last year, Edinburgh-based Baillie Gifford invested $100 million in Blockchain.com, making it the UK company’s biggest ever investment. In March, the company raised $300 million at a $5.2 billion valuation in a Series C funding round co-led by DAST Global, Lightspeed Venture Partners and VY Capital. Prior to that, in February 2021, Blockchain.com secured $120 million in a “strategic round”.
The company recently expressed its expansion ambitions and said it was moving its headquarters from New York to Miami and preparing to lease a 22,000 square foot office in Miami, employing approximately 300 people. .
The exchange also announced its intention to launch your own NFT marketplace, as reported by Kripteu Magazine. It opened for the same by releasing a waitlist, which allows users to buy, sell or store NFTs.