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. 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 company Baillie 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. 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., its Series 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 London-based platform managed to raise $300 million in this round, putting its valuation at $5.2 billion. Prior to the Series C funding, the company had managed to raise $120 million in a strategic growth round, which led to it being valued at $3 billion.
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Source: Crypto Daily