Blockchain.com raises $110M funding round at lower valuation: BBG

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Crypto exchange and wallet service Blockchain.com has reportedly raised a $110 million funding round.

The Series E round was led by Kingsway, which led a funding round for the company in October 2022, according to Bloomberg. The outlet characterized the funding round as “strategic financing.”

Blockchain.com scored a $14 billion valuation in an early 2022 funding round, as Bloomberg reported at the time. According to the outlet, the new Kingsway-led round was raised at “less than half” of that amount.

The potential for a down round — wherein a company raises at a valuation lower than a previous fundraise — was previously reported by Bloomberg. 

With the fresh capital in hand, Blockchain.com has raised as much as $600 million since its founding in 2011, according to Crunchbase data.

Lightspeed Venture Partners, Coinbase Ventures, Lakestar and Baillie Gifford also took part in the round. Lightspeed Venture Partners led the early 2022 deal.

Baillie Gifford, an early backer of Tesla, contributed $100 million to Blockchain.com’s $300 million Series C round in 2021.


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Source
Blockchain.com raises $110M funding round at lower valuation: BBG is written by Michael McSweeney for blockworks.co

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