Blockchain.com reaches $14B after a funding round led by Lightspeed Venture Partners
One of the largest crypto financial service providers, Blockchain.com, has announced that it has raised new funding which brings the company’s value to about $14 billion.
Blockchain.com doubles its worth
As per a report by Bloomberg, Blockchain.com has said that the new funding makes the company worth $14 billion, more than doubling its value, and vaults the company into the list of the most valuable crypto companies. This clearly signals that crypto firms still have massive favor from investors in turbulent venture capital markets.The funding round, which was led by Lightspeed Venture Partners, saw major participation from Baillie Gifford & Co.
The steady growth
Blockchain.com, which was founded in 2011, allows its 37 million verified users to buy and store cryptocurrencies. In April last year, Edinburgh-based Baillie Gifford had invested US$100 million in Blockchain.com, making it the UK company's largest single investment. In March, the company raised $300 million at the valuation of $5.2 billion in a Series C round that was co-led by DAST Global, Lightspeed Venture Partners, and VY Capital. Before that in February 2021, Blockchain.com secured $120 million in a “strategic round.”The company recently expressed its ambitions for expansion and said that it was moving its headquarters from New York to Miami and is set to lease a 22,000 sq ft office in Miami, with the employment of around 300 people.
The exchange has also announced plans to launch its own NFT marketplace, as Cryptonary reported. It has opened its doors for the same by releasing a waiting list, which enables users to buy, sell, or store NFTs.
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