Blockchain.com raised a $120M strategic growth round led by macro investors
Today we’re excited to share that Blockchain.com has closed on a strategic financing round, securing $120M from some of the world’s leading macro investors. These investors include Moore Strategic Ventures (Louis Bacon), Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, GV (aka Google Ventures), Lakestar, Eldridge, and more.
When we set out to raise our Series A in late 2014, there were only a handful of venture-backed crypto companies. A bitcoin was worth hundreds of dollars and we were pleased to power just over 2 million wallets in the wild.
Six years later, we’ve come a long way. Bitcoin just crossed the monumental price target of $50k. Over 65M Wallets have been created in 200+ countries. And 28% of all Bitcoin transactions since 2012 have occurred via Blockchain.com, representing billions in transaction volume.
What excites me most about this moment is the immense optimism about cryptocurrency from serious, institutional investors. In fact, the current bull run is dominated by stories of Fortune 500 companies, investment funds, and institutions driving net inflows into crypto. The fact that the best macro investors in the world participated in our latest fundraise is further proof that institutions are taking a serious look at their crypto strategy.
Our Institutional Markets business is growing exponentially, and while the Wallet remains the core of our business, our Institutional business is now significant enough to cover the entire operating cost of the business globally while also delivering additional operating profits.
In the midst of a global pandemic, we’re experiencing an unprecedented level of distrust in traditional financial institutions. An acceleration of commerce online. A fundamental shift for communication, commerce, and investing that will leave the world forever changed.
More than ever before, crypto begins to seem like the real Robin Hood of finance. A decentralized network that creates and stores value for anyone with a mobile device and an internet connection. Companies are adding bitcoin to their balance sheets, central banks are taking notice of the innovations in DeFi, and we’re seeing all time high after all time high.
Fundraising as news is a bit strange to me. To be clear, I recognize all of the hard work the team has put in to accelerate the growth of Blockchain.com and crypto writ large — but what I’m most excited about hasn’t happened yet. Our mission is to empower anyone anywhere to control their money and we’re just getting started.
We’re thankful to the millions of Blockchain.com users who have grown with us over the years. Since our humble beginnings as blockchain.info, we’ve always been customer-first. Throughout each of the crypto cycles, our customer numbers have continued to increase, our product lines have expanded, and the industry has grown up in a big way.
Paradigm shifts like crypto can feel to the world as though they happened overnight — but for those of us working day in and day out to build technology and innovation in crypto, this has been a long time coming. I couldn’t be more optimistic about the future, but there’s so much more to do. It’s time to bring billions of people into crypto and millions of institutions around the world. It’s time to build a financial system for the internet.
It’s time to do the work.
Blockchain.com is connecting the world to the future of finance. The company, which is headquartered in London, with an international team spread across the world, is the most trusted and fastest growing crypto company, helping millions across the globe — from single individuals to the largest institutions — safely access cryptocurrency. Through the use of block chain technology, Blockchain is revolutionizing the $14T financial services industry. Blockchain has raised over $190 million in funding from leading, global investors including: Eldridge, GV, Kyle Bass, Lakestar, Lightspeed Venture Partners, Moore Strategic Ventures, Rovida Kruptos Assets Limited and others.
About Access Technology Ventures
Access Technology Ventures is the $2+ billion venture capital and growth technology investment effort of Access Industries, a privately held, US-based industrial group with global strategic investments of $20+ billion. Access Technology Ventures’ portfolio includes leading technology companies such as Alibaba, Amazon, Digital Ocean, Facebook, Opendoor, PinDuoDuo, Snap, Square, and Tencent Music.
Access Industries was founded in New York in 1986 by Len Blavatnik, a global entrepreneur and philanthropist.
Access Industries invests in industries where it can maximize long-term value by developing regional and global market-leading companies. The group is headquartered in New York, with an office in London.
Eldridge manages businesses across diversified industries.
Headquartered in Greenwich, CT, with offices in New York, London, and Beverly Hills, Eldridge is dedicated to growing market opportunities into significant businesses. Eldridge is interested in providing businesses and management teams with capital and resources to help experienced leaders and their teams execute their strategic plans. Eldridge provides debt and equity capital along with perspective, relationships, and a network of supportive businesses with a shared commitment to growth.
GV provides venture capital funding to bold new companies. Across the fields of life science, enterprise technology, consumer products and services, and frontier technology, GV’s portfolio companies aim to improve lives and transform industries. GV’s team of world-class engineers, designers, physicians, scientists, marketers, and investors work together to provide startups exceptional support.
Launched as Google Ventures in 2009, GV is the venture capital arm of Alphabet, Inc. GV helps startups interface with Google, providing unique access to the world’s best technology and talent.
GV has $5 billion under management. Notable investment outcomes include Uber, Slack, One Medical Group, Nest, Flatiron Health, and Duo Security. GV is headquartered in Mountain View, California, with offices in San Francisco, Boston, New York, and London.
About Kyle Bass
J. Kyle Bass is the Founder and Chief Investment Officer of Hayman Capital Management, an investment manager of private funds focused on global event-driven opportunities.
Mr. Bass is a founding member of the Committee on the Present Danger: China. Mr. Bass was the recipient of the 2019 Foreign Policy Association Medal for his responsible internationalism and is a current member of the Council on Foreign Relations. Mr. Bass has testified as an expert witness before the U.S. House of Representatives, U.S. Senate, and the Financial Crisis Inquiry Commission.
Lakestar has a strong entrepreneurial spirit and works along side ambitious founders to create successful companies
Lakestar operates in early and growth-stage ventures by partnering with outstanding entrepreneurs worldwide, focusing on internet and technology companies that can quickly achieve global scale.
Founded by Klaus Hommels, one of Europe’s leading venture capitalists, Lakestar has invested in many of the companies that define today’s digital economy, including Facebook, Spotify and Skype, and more recently Opendoor, Omio, Glovo and Revolut.
Lakestar has a presence in Zurich, Berlin, London, New York and Hong Kong.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400 companies globally, including Snap, Nest, Nutanix, AppDynamics, MuleSoft, OYO, Guardant, StitchFix, and GrubHub. Lightspeed and its affiliates currently manage $10.5B across the global Lightspeed platform, with investment professionals and advisors in Silicon Valley, Israel, India, China, Southeast Asia and Europe. www.lsvp.com
About Moore Strategic Ventures
Moore Strategic Ventures, LLC is the privately held investment company for Louis M. Bacon, Founder and CEO of Moore Capital Management, LLC.
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