Cryptocurrency exchange and financial services company Blockchain.com has reportedly raised $14 billion in new funding.
The funding round was led by global venture capital firm Lightspeed Ventures and Baillie Gifford & Co., an investment management firm known for its early involvement in rising stocks like Tesla, according to Bloomberg.
In a funding round that has not yet been publicly confirmed by Blockchain.com or investors, the companies’ valuation has reportedly increased from $5.2 billion to $14 billion. The total amount of funds raised has not yet been announced.
Founded in 2011, Blockchain.com is currently one of the world’s largest cryptocurrency companies and offers a wide range of blockchain-based financial services, from its exchange platform and cryptocurrency wallets to specific institutional products. It has 37 million verified users with 82 million wallets and a total transaction value of over $1 trillion on its platform.
Last April, Blockchain.com hit the headlines after receiving a $100 million investment from Baillie Gifford & Co., at the time the largest investment ever made in the company.
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Blockchain.com’s last major funding round came in March 2021, when the company raised $300 million in a Series C round at a $5.2 billion valuation. The funding round was led by DST Global, Lightspeed Venture Partners and VY Capital. Prior to this, the company has raised $120 million from a wide range of venture capital firms, with the funding primarily directed towards institutional business development.
This week, Blockchain.com added its name to the list of companies leaving the UK Financial Conduct Authority (FCA) interim registry for cryptocurrency asset licensing, which states that firms must be approved under the Anti-Money Laundering (AML) scheme or stop trading by March 31st.
Blockchain.com withdrew its application on March 29, opting instead to operate in Europe through a Lithuanian registration. On March 11, BC2C, an institutional provider of cryptocurrency trading, also left the UK, planning instead to conduct its operations through a US entity.