Blockchain.com has just completed a new round table from 110 million dollars led by Kingsway Capital. The popular supplier from crypto wallets and exchange sees its valuation divided by more from 2.
The pioneer Blockchain.com announced Tuesday evening that it had raised $110 million in fresh capital in a Series E managed by Kingsway Capital.
The round of funding for the company, which was born in London in 2011, also includes the participation of Baillie Gifford, Lakestar, Access Industries, Moore Capital, Prudence, Freeman Capital, Pledge Ventures and the VC arm of the Coinbase exchange.
Blockchain.com is the world’s leading crypto infrastructure platform for individuals and institutions. Our revenues have grown by approximately 1500% over the past four years, which is significantly faster than the 275% growth of the global crypto market over the same period,” Blockchain.com said in a blog post.
The valuation of the crypto exchange and wallet services provider has been more than halved, according to sources close to the matter quoted by Bloomberg. The latter reached $14 billion in a previous funding round in March 2022.
The news agency had warned at the end of 2022 that Blockchain.com’s valuation would fall sharply in its next deal. In the meantime, the firm announced a fundraising round with Kingsway Capital, though without giving any details.
Following Series E, Manny Stotz, founder and boss of Kingsway Capital, and Nicolas Brand, partner at Lakestar, have joined Blockchain.com’s board of directors.
In early 2023, the platform made a second wave of redundancies in the wake of falling values on the crypto market. It was parting with a third of its 400 employees.
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