Blockchain.com Valuation Soars to $14 Billion After New Funding Round

Cryptocurrency exchange and financial services firm Blockchain.com has reportedly raised new funding at a $14 billion valuation.

The financing was led by global venture capital firm Lightspeed Ventures and investment management firm Baillie Gifford & Co., according to Bloomberg. Baillie Gifford & Co. is known for its early investments in growth stocks such as Tesla.

The round, which reportedly increases the company’s valuation from $5.2 billion to $14 billion, has not been publicly confirmed by Blockchain.com or investors, nor has the total amount raised.

Founded in 2011, Blockchain.com is now one of the largest cryptocurrency companies in the world and offers a range of blockchain-based financial services, from its trading platform and crypto wallet all the way to specific institutional products. It has 37 million authenticated users, 82 million wallets, and over $1 trillion in total transaction value across the platform.

Last April, Blockchain.com made headlines after securing a $100 million investment from Baillie Gifford & Co., which at the time was the largest investment the company had ever received.

Blockchain.com’s last major funding round took place in March 2021, when the company raised $300 million at a $5.2 billion valuation in its Series C round. The round was led by DST Global, Lightspeed Venture Partners and VY Capital. Prior to this, the company had raised $120 million from various venture capital firms, mostly for institutional business development.

This week, Blockchain.com joined the list of firms that have withdrawn their provisional license to register crypto assets with the U.K. Financial Conduct Authority (FCA), which requires companies to obtain approval under an anti-money laundering (AML) scheme, or cease trading by March 31. .

On March 29, Blockchain.com withdrew its application, opting instead to operate in Europe through its Lithuanian registration. On March 11, institutional cryptocurrency exchange provider BC2C also withdrew plans for the UK, instead conducting its operations through a US-based entity.

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