Blockchain.com raises $300M at $5.2B valuation

Cryptocurrency company Blockchain.com has raised a $300 million Series C round and the company has reached a post-money valuation of $5.2 billion. 

The funding round was led by partners of DST Global, Lightspeed Venture Partners, and VY Capital, with participation from other existing investors. The round follows Blockchain.com’s $120 million round announced a month ago. 

“While Blockchain.com is highly profitable across each of our business lines (having surpassed all of 2020 contribution margin in the first 2 months of 2021) we believe that our new partners, who have experience in supporting companies during times of hyper growth — are the perfect complement to our recent addition of some of the best macro investors like Louis Bacon and Kyle Bass. With the addition of Jim Messina to our Board of Directors, we aim to be ready to evolve into an industry-leading company and global brand.” said Peter Smith, CEO and co-founder of Blockchain.com.

Also read: Cryptocurrency trading platform Bitpanda raises $170M at a $1.2B valuation

Smith also said Over 31 million verified users in over 200 countries use Blockchain.com products, and the number of active users increased by 3x over the past 12 months.

The company plans to expand its products, grow its global team, and pursue M&A opportunities to “bring exciting new products and ideas into the company”.”

“I couldn’t be more proud of the team, I couldn’t be more optimistic about the future of Blockchain.com, our products, and our brand to meet this moment.”