Crypto exchange startup Blockchain.com has raised new funding hitting the company at about $14 billion, thus taking its worth more than double. The funding round was led by Lightspeed Venture Partners with major participation from Baillie Gifford, as per reports.
Founded in 2011, Blockchain.com enables users to buy and bank digital currency like Bitcoin. Last year, the firm raised $300 million at a $5.2B valuation in a round that too included Lightspeed and VY Capital.
In April 2021, Baillie Gifford had invested $100 million in crypto exchange and wallet provider Blockchain.com. There were reports suggesting that the company was moving its U.S. headquarters from New York to Miami, and will eventually employ about 300 people in the headquarters. The firm also revealed plans to launch its own NFT Marketplace.
According to its website, the company currently caters to 37 million verified users with 82 million wallets created, and more than $1 trillion transacted.
Speaking of its major investor, Lightspeed had recently participated in another funding round of decentralized finance (DeFi) firm, Treehouse that had raised $18 million to help users confidently navigate DeFi.
The huge funding is a clear telltale sign that cryptocurrency companies do enjoy the goodwill of investors even in bumpy venture capital markets.