Fireblocks hits $1bn valuation after close of Series D

Fireblocks, which claims to help financial institutions safely interact with digital assets, has closed its Series D round on $310, bringing its valuation to more than $2bn.

The unicorn will use the capital to further is expansion in the digital asset space and scale its business lines. Funds will also be used to add more customers and partners to its ecosystem.

Sequoia Capital, Stripes, Spark Capital, Coatue, DRW VC and SCB 10X all co-led the Series D round. Additional commitments came from BNY Mellon and SVB Capital.

Through Fireblocks, clients can start using digital assets, with tools to store, transfer and issue the assets across ecosystems. Its clients include exchanges, lending desks, custodians, banks, trading desks, and hedge funds. Revolut, BlockFi, Celsius, PrimeTrust, Galaxy Digital, Genesis Trading, and eToro are just some of its customers.

Fireblocks claiming to serve over 500 financial institutions and more than $1trn in digital assets.

The Fireblocks Infrastructure and Wallet Infrastructure, firms can build their own digital asset applications, with use cases including bitcoin, payments, gaming, NFTs, digital securities and more.

Sequoia Capital partner Ravi Gupta said, “As crypto becomes increasingly important, we are seeing an explosion of companies that handle digital assets, including crypto-native companies, fintech companies, neobanks and traditional financial institutions.

“The secure storage and transfer of digital assets will be core to all of these businesses, and Fireblocks is positioned to become the infrastructure for companies to secure and move digital assets. The visionary team at Fireblocks is providing critical infrastructure to a new financial world and we’re thrilled to be their partner.”

Since it was founded in 2019, the RegTech company has raised a total of $489m in funding. Its most recent round was its $133m Series C, which closed in May 2021. The funds, which were supplied by Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures, is being used to expand globally.

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