Cryptocurrency wallet Blockchain.com has hit a $5.2bn valuation after closing its Series C on $300m.
The round was led by DST Global, Lightspeed Venture Partners and VY Capital, with commitments also coming from existing and leading investors from around the world.
This investment comes hot off the heels of the FinTech’s $120m strategic growth round, which it closed last month. The funds were supplied by Google Ventures, Lightspeed Venture Partners and others.
Having closed the Series C, Blockchain is looking to aggressively expand its product suite, grow its team and seek merger and acquisition opportunities to help it offer new services.
The FinTech claims to be highly profitable across each of its business lines, and surpassed its 2020 contribution margin in the first two months of 2021. It hopes its new partners will continue this growth.
Founded in 2011, the company offers a cryptocurrency wallet that lets consumers buy, hold and use their digital assets. The platform has more than 31 million verified users spread across over 200 countries. It claims to have witnessed a three-times increase in active users over the past 12 months.
There is a growing list of FinTech unicorns. Last week, cryptocurrency trading platform Bitpanda was one of the latest to join the club.
The FinTech platform hit a $1.2bn valuation after a $170m Series B round, which was supported by Valar Ventures and DST Global. Bitpanda enables users to buy, sell and trade cryptocurrencies
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