In the BlockFi announcement, the company’s revenue has grown ten-fold over the past year, putting the company on pace to reach $100 million in revenue over the next 12 months. BlockFi raises $50 million, eyes potential SPAC. Zac Prince, the co-founder & CEO of BlockFi, the industry-leading wealth management platform for crypto asset investors. Here's How To Tell, Privacy Policy / Do Not Sell My Personal Data. Bitcoin golden physical coin illustration on Euro, banknotes of 20 and 50 euros. The round was co-led by Bain Capital … BlockFi Adds Support for PAX Gold (PAXG) and Tether (USDT) September 3, 2020. Apart from raising $50 million at the time, Morgan Creek Digital’s co-founder and partner, Anthony Pompliano, joined BlockFi’s board of directors. Thessaloniki, Greece - August 8, 2020 (Photo by Nicolas Economou/NurPhoto via Getty Images), Future of Work | Presented by Microsoft Teams, The Next Step | Small Business Video Series. Who Is BlockFi? The future of finance. © 2021 Forbes Media LLC. The latest financing brings its total equity raised since inception to about $450 million, with the company raising $100 million across its seed and Series C rounds. Other participating investors include Valar Ventures – the lead investor in BlockFi’s Series A and B, CMT Digital, Castle Island Ventures, Winklevoss Capital, SCB 10X, Avon Ventures, Purple Arch Ventures, Kenetic Capital, HashKey, NBA player Matthew Dellavedova and two university endowments. The latest funding round comes as the US-based fintech reported a ten-fold revenue increase in the past 12 months. BlockFi raised $50 million in its Series C led by Morgan Creek Digital, with participating investors such as Valar Ventures, Winklevoss Capital, Kenetic Capital, CMT Digital, Castle Island Ventures, SCB 10X, HashKey, Avon Ventures, Purple Arch Ventures, Michael Antonov, NBA player Matthew Dellavedova, and two university endowments. "BlockFi's platform offers investors unparalleled capabilities in the digital asset ecosystem,” said Anthony Pompliano, Co-Founder and Partner at Morgan Creek Digital. I’ve also written about blockchain projects with the potential to transform. Overall, the funding will help BlockFi enter into new lines of business and release a bitcoin rewards-based credit card and support for additional assets and currencies. Fresh on the heels of two solid investment rounds earlier this year, crypto lending startup BlockFi has secured an additional $50 million in Series C funding. BlockFi Raises $50M Series C Financing. BlockFi, a New Jersey-based cryptocurrency lender and financial services company, has recently secured $50 million in Series C funding round. I have managed blockchain and currency initiatives for the banking sector. In this conversation, Zac and I discuss: The Series C funding comes amid the turbulence in world markets due to the pandemic, with many institutional investors and retail ass essing their portfolios to better hedge against economic uncertainty. BlockFi raised $50 million in a Series C funding round led by Morgan Creek Capital. With Thursday’s announcement, BlockFi has now raised more than $450 million in venture capital. Get Started. When you upgrade to Crunchbase Pro, you can access unlimited search results, save to custom lists or to Salesforce, and get notified when new companies, people, or deals meet your search criteria. What Happened: On the heels of two other funding rounds in the past 12 months, BlockFi, as part of a vision to expand its ecosystem of customer-centric digital asset solutions, secured funds from Morgan Creek Digital, Winklevoss Capital and Matthew Dellavedova, among others. August 20, 2020. Gunderson Dettmer represented client BlockFi in its $50 million Series C financing led by Morgan Creek Digital, with participation from Valar Ventures, CMT Digital, Castle Island Ventures, Winklevoss Capital, SCB 10X, Avon Ventures, Purple Arch Ventures, Kenetic Capital and HashKey. Its founders are Flori Marquez and Zac Prince. This episode gives you an overview of the business, their products, and what they are going to do with the money. As many are starting to embrace bitcoin as an uncorrelated asset from equities and other commodities, BlockFi has uniquely capitalized on macroeconomic trends. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. In addition to contributing to Forbes, I am a data scientist and consult for financial institutions managing regulatory, business transformation, and technology programs. That was a big jump from its 2020 Series C round, which raised $50 million. Bitcoin is a popular digital currency that showed growth and is widely spread, accepted from banks, markets and other services and shops as ways of payments. Opinions expressed by Forbes Contributors are their own. BlockFi’s Series C comes amid turbulence in world markets, with many retail and institutional investors reassessing their portfolios to better hedge against ongoing economic uncertainty, such as inflation or a sudden drop in the stock market. Posted-In: Anthony Pompliano BlockFi Matthew Dellavedoa Morgan Creek Digital WInklevoss CapitalFintech News Financing Best of Benzinga, Is Your Cannnabis Vape Cartridge Safe Or Counterfeit? BlockFi’s Series C comes amid turbulence in world markets, with many retail and institutional investors reassessing their portfolios to better hedge against ongoing economic uncertainty. Fast-growing digital asset platform BlockFi has closed on a $50 million Series C funding round led by Morgan Creek Digital, according to a note from the firm. “The past twelve months at BlockFi have been nothing short of amazing, and if anything, is a testament to the staying power of bitcoin and other digital assets,” said Zac Prince, CEO and Co-Founder, BlockFi. BlockFi Raises $50M Series C Led by Morgan Creek Digital. Subscribe to the Crunchbase Daily. BlockFi, a cryptocurrency lender and financial services company, announced today that it raised $50 million in Series C funding led by Morgan Creek Digital. BlockFi, a Jersey City, NJ-based cryptocurrency lender and financial services company, raised $50m in Series C funding. Benzinga does not provide investment advice. BlockFi, an online crypto lender that also offers accounts paying compound interest and trading, raised $ 50 million in a Series C round led by Morgan Creek Digital.. Other participating investors include Peter Thiel-backed Valar Ventures (the lead investor in BlockFi’s Series A and B), CMT Digital, … The Jersey City, New Jersey-based company was founded by Zac Prince and Flori Marquez and offers a suite of financial products that seamlessly interact with one another, enabling clients to build and … CEO and Founder of BlockFi, Zac Prince, announced that his company had closed a Series C … Crypto lender BlockFi announced Thursday the close of a $50 million Series C fundraise as competition in the digital asset lending market heats up. BlockFi has announced raising US$50m in Series C funding led by Morgan Creek Digital. BlockFi was founded in August 2017 and is based in Jersey City, New Jersey. Image: BlockFi. Before the Series D, the company completed a Series C funding in August 2020, as reported. The company has raised $158.7 million up to a Series C. I report on the adoption of cryptocurrency, stablecoin and blockchain. BlockFi is a cryptocurrency custodian that allows its customers to take out USD loans against their cryptocurrencies. After $50 million in fresh capital, crypto lender BlockFi has now raised nearly $100 million in the past 12 months. As part of the investment, Anthony Pompliano will join the company’s board of directors. As reported in August 2020, BlockFi closed on a $50 million Series C funding round led by Morgan Creek. Series A and Series B funding round of BlockFi was led by Valar Ventures. This is a significant increase for the Bitcoin lender. BlockFi News. Bitcoin's rise and volatility in the past few months have helped shine a positive light on digital assets. All Rights Reserved. Today they are announcing a $50 million Series C fundraising round. Since its Series C, BlockFi has focused heavily on adding world-class talent to its leadership team, all of whom come from respected financial institutions. The newly-acquired funds will be used for the release of a bitcoin rewards-based credit card as well as to support additional digital assets and currencies on the platform. Financial services company BlockFi landed $50 million in Series C funding to develop products for cryptocurrencies.. The firm announced that it raised million in its latest Series C funding round. BlockFi revealed that other participating investors include Valar Ventures, which led its Series A and B rounds. BlockFi is a cryptocurrency custodian that allows its customers to take out USD loans against their cryptocurrencies. In a statement to the public, Anthony Pompliano stated that the funding round was led by his crypto asset […] Don't have a Benzinga account? Pompliano has also joined BlockFi’s Board of Directors. BlockFi raised $50 million in its Series C led by Morgan Creek Digital, with participating investors such as Valar Ventures, Winklevoss Capital, Kenetic Capital, CMT Digital, Castle Island Ventures, SCB 10X, HashKey, Avon Ventures, Purple Arch Ventures, Michael Antonov, NBA player Matthew Dellavedova, and two university endowments. As a journalist, I report on cryptocurrency, collateralized tokens and stablecoins. The firm’s $50 million Series C was announced last … Create one. "BlockFi's platform offers investors unparalleled capabilities in the digital asset ecosystem. I’m a graduate of St. John’s University and Stevens Institute of Technology. Its founders are Flori Marquez and Zac Prince. The company now boasts more than $1.5 billion in assets on the platform. BlockFi was founded in August 2017 and is based in Jersey City, New Jersey. All rights reserved. Investors in the Series D funding round valued the company at $3 billion, BlockFi announced Thursday. Who Is BlockFi? BlockFi News. The exchange rate today for 1 bitcoin blockchain is 9969 euros. BlockFi, a provider of digital asset solutions, formally announced the closure of a $50 million Series C to be used for wealth management and digital asset investment initiatives. The company has managed to raise over $150 million up to a Series C and has been working to make its crypto technology more accessible to people around the globe. Why It Matters: 2020 was one of the best for BlockFi; the company saw revenue grow ten-fold, putting it on pace to reach $100 million. BlockFi News. My professional experience has been with Wall Street investment banks for over 20 years in securities and trading. Funding Round search results. “We're excited to back this world-class team as they continue to add new products and expand into incremental areas that are disrupting traditional finance.”. The old way of doing things doesn’t cut it anymore. BlockFi was founded in 2017 and is based out of New Jersey. BlockFi, a cryptocurrency lender and financial services company, announced today that it raised $50 million in Series C funding led by Morgan Creek Digital. BlockFi, a provider of digital asset solutions, formally announced the closure of a $50 million Series C to be used for wealth management and digital asset investment initiatives. “The past twelve months at BlockFi have been nothing short of amazing, and if anything, is a testament to the staying power of Bitcoin and other digital assets,” said Zac Prince, CEO and BlockFi cofounder.
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