According to Bloomberg, Lightspeed Ventures and Baillie Gifford & Co., a well-known investment management firm actively involved in growth stocks like Tesla, spearheaded the funding round.
The valuation of the companies reportedly increased from $5.2 billion to $14 billion as a result of the funding round, which has yet to be formally acknowledged by Blockchain.com or the investors. Currently, no information is available about the total amount of money raised.
As a result of its growth, Blockchain.com has emerged as one of the world’s largest cryptocurrency companies. The company provides a wide range of blockchain-based financial services, ranging from an exchange platform and cryptocurrency wallets to specific institutional products and services. Over $1 trillion in total transaction value has been transacted over the platform by 37 million verified users with 82 million wallets.
After getting a $100 million investment from Baillie Gifford & Co., Blockchain.com made news in April of last year, marking the single largest investment in the company’s history at that time.
It was in March 2021 that Blockchain.com raised $300 million in a Series C investment at a valuation of $5.2 billion, making it the company’s most recent significant fundraising round. DST Global, Lightspeed Venture Partners, and VY Capital were the primary investors in the round of investment. Before this, the company raised a total of $120 million in continuous funding from a diverse range of venture capital firms, with the majority of the funds going toward institutional business development and expansion.
This week, Blockchain.com was added to the list of those that have left the FCA crypto-asset licensing temporary register. The FCA’s temporary register for crypto-asset licensing stipulates that firms must be approved under an anti-money-laundering (AML) scheme or cease trading by March 31 to remain on the register.
After withdrawing its application on March 29, Blockchain.com decided to conduct business in Europe through a Lithuanian registration. On March 11, BC2C, an institutional bitcoin trading firm, also announced its withdrawal from the United Kingdom, stating that it will instead conduct its business through a US-based organization.
Blockchain.com began as a forerunner in the development of critical infrastructure for the bitcoin community. First, with a Blockchain Explorer that allowed anyone to view transactions and research the blockchain, as well as an API that allowed businesses to build on top of Bitcoin. They’ve also created the most popular and commonly utilized cryptocurrency wallet, allowing anyone, wherever, to manage their funds.
The Blockchain.com staff is based all over the world and has been working tirelessly to accelerate crypto acceptance and usher in the future of finance. They’re driven, tenacious, believe that a small group of world-class visionaries can deliver solutions that empower their customers and propel the company to new heights.