Blockchain.com, a cryptocurrency enterprise offering a digital asset exchange, a blockchain explorer, and a non-custodial wallet, has recently secured $110 million in a Series E funding round spearheaded by Kingsway. Despite this successful funding round, Blockchain.com’s post-valuation reportedly stands at less than half of its value estimated in 2022.
Investors Inject $110 Million Into Blockchain.com
Blockchain.com, the digital assets platform, has made headlines by securing $110 million in a Series E financing round, with Kingsway taking the lead. This financial endeavor also witnessed participation from investors such as Coinbase Ventures, Lakestar, Lightspeed Venture Partners, and Baillie Gifford, as initially reported by Bloomberg’s Olga Kharif.
Notably, several of the investors who joined this Series E round had previously participated in the Series D round. Kharif further reported that “a person familiar with the matter” told the publication that Blockchain.com’s post valuation is still less than half of the $14 billion it received in 2022.
According to Crunchbase data, Blockchain.com has received backing from a total of 32 investors, amounting to $600 million in total funding. The company has also made several strategic acquisitions, including Zeroblock in 2013, rtbtc.com in 2014, Aix in May 2021, sesocio.com in November 2021, and Altonomy in March 2022.
Additionally, Blockchain.com has actively invested in various crypto projects, supporting initiatives like Zetachain, Arbitrum, Messari, and Gnosis. In October 2022, Blockchain.com introduced a crypto Visa card, offering 1% cashback in crypto rewards. Earlier in March 2022, the company, founded in 2011, made the strategic decision to discontinue its asset management subsidiary, responding to market dynamics.
Just a few months later, in August, Blockchain.com secured a payment license in Singapore. Looking back to 2022, the company also inked a multi-year partnership with the Dallas Cowboys and their star quarterback, Dak Prescott. This week, the crypto company introduced XRP into the Blockchain.com wallet.
What do you think about Blockchain.com raising $100 million in its Series E financing round? Share your thoughts and opinions about this subject in the comments section below.
via Jamie Redman
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