Blockchain.com completes strategic financing led by Kingsway Capital

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2022-10-15 06:14

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Baillie Gifford, Lightspeed Venture Partners and others participated in the investment.

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Baillie Gifford, Lightspeed Venture Partners and others participated in the investment.

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Cryptocurrency services company Blockchain.com closed a new round of funding early in the third quarter.

In its last funding round in March, the company was valued at $14 billion.

Blockchain.com announced the completion of a new round of strategic financing, led by British investment institution Kingsway Capital.

While the company did not disclose the total amount, Blockchain.com said the deal closed sometime early in the third quarter, with other investors including Baillie Gifford, Lightspeed Venture Partners, VY Capital, DST, GV, Fort Ross, Access Industries, Lakestar, etc.Blockchain.com CEO and co-founder Peter Smith in the officialblog post wrote

, “Our strategic funding comes at a time of continued growth for Blockchain.com,” noting that Blockchain.com recently received regulatory approval to operate in Singapore, Italy, Dubai, the Cayman Islands and elsewhere.

Peter Smith noted that Kingsway Capital founder Manny Stotz has become a "trusted advisor" to the company's leadership team and an advocate for its brand and vision.

He also said, “As Blockchain.com weathers the market turmoil, we probably couldn’t find a better partner than Kingsway to support us in charting our path forward.”

According to Bloomberg’s previous reports, in March this year, Blockchain.com completed a new round of financing with a valuation of US$14 billion. The financing amount was not disclosed. It is reported that the round of financing was led by Lightspeed Venture Partners, with participation from Baillie Gifford & Co.

The crypto company offers services such as trading, lending and custody. Just recently, Blockchain.com received approval from Singapore to provide payment services. Founded in 2011, Blockchain.com is also one of the oldest companies in the crypto industry.It is reported that Blockchain.com had provided loans to Three Arrows Capital (Three Arrows Capital) for nearly four years before it went bankrupt.。

Faced a $270 million loss as a result