How BlockFi Gets A $3 Billion Valuation?

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Date: 26.03.2021

New Jersey-based cryptocurrency lending firm BlockFi has taken on $350 million in Series D venture capital funding - one of the largest to date among blockchain and cryptocurrency startups. The deal increases the company's private valuation to $3 billion, up from a $435 million valuation when it raised $50 million in Series C funding just six months ago.

According to BlockFi’s statement, the round was led by Bain Capital Ventures, partners of DST Global, Pomp Investments, and Tiger Global. The investment follows three prior rounds within the last two years, totaling more than $100 million, raised from venture capital firms including Galaxy Digital, Susquehanna, and Winklevoss Capital.

The size of the round reflects “our growth, the size of the industry, and as a result, the size of businesses that can be built in this industry,” says Zac Prince, CEO and co-founder of BlockFi. “If you look at some of the constituents in the round, it's a testament to increasing institutional adoption, and participation in the crypto ecosystem or crypto as an asset class by very high-quality and sophisticated institutional investors.”

The article was prepared based on the information: Forbes

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