Blockchain co-founder and CEO Peter Smith speaks during the Web Summit technology conference in Lisbon, Portugal, on November 6, 2018.
Pedro Fiúza | NurPhoto via Getty Images
LONDON – Blockchain.com, one of the world’s largest cryptocurrency wallet providers, announced on Wednesday that it raised $ 300 million in a mega fundraising round that values the company at $ 5.2 billion.
The London-based start-up said its latest cash injection was led by DST Global, Lightspeed Venture Partners and VY Capital. It comes just a month after the company raised $ 120 million in a $ 3 billion valuation.
Blockchain.com claims to be responsible for about 28% of all bitcoin transactions since 2012. It is best known for its digital wallets that are used to store cryptocurrencies, but more recently it started trading with its own virtual currency exchange. The name of the company derives from the blockchain network of the same name that records all bitcoin transactions.
Venture capitalists are looking to capitalize on the boom in bitcoin and other cryptocurrencies, which increased last year as major investors became enthusiastic about the market. Big companies like Tesla and Square also bought bitcoin, with electric vehicle maker Elon Musk buying $ 1.5 billion in cryptocurrencies earlier this year.
Peter Smith, founder and CEO of Blockchain.com, said in a blog on Wednesday that the business is “highly profitable in each of our lines of business”.
The company attracted support from hedge fund managers like Louis Bacon and Kyle Bass, as well as billionaire businessman Richard Branson, Alphabet GV’s venture arm and Spotify’s first sponsor, Lakestar.