Crypto service Blockchain.com has just attracted $300M during its latest funding round, resulting in the company's valuation reaching $5.2B, Reuters reports. Participants in the funding round include DST Global, Lightspeed Venture Partners and VY Capital, among others.
Blockchain.com is a company specializing in cryptocurrency storage services that also offers retail trading as well as other services for large investors. Blockchain.com raised $120M last month, after which the company's valuation reached $3B. The company's valuation has increased by 73% year to date.
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The company will use the funds raised for an "aggressive expansion" of its product line, hiring new employees and acquiring new companies. The company CEO Peter Smith has said his business has already become "highly profitable" and the new funding will help the company accelerate its growth.
According to Blockchain.com, the company has over 31 million verified customers and 70 million wallets in more than 200 countries worldwide, and its active user base has tripled over the past year.