BlockFi raises $350 million at a $3 billion valuation

The crypto-lending platform BlockFi closed its Series D funding round at $350 million.

We are excited to announce the completion of our $350 million Series D, valuing the company at $3 billion. The round was led by new investors, including Bain Capital Ventures, partners of DST Global, Pomp Investments and Tiger Global. https://t.co/tO3Xbfa3ij

— BlockFi (@BlockFi) March 11, 2021

The round was joined by Tiger Global, Bain Capital Ventures and Pomp Investments. Investors valued BlockFi at $3 billion.

The company will use the funds to expand its staff and to launch, in partnership with a Visa credit card offering Bitcoin cashback, as well as to promote its services outside the United States.

According to Zac Prince, the platform’s CEO, the latest round reflects BlockFi’s growth, the size of the sector, and the business that can be built within it.

In August 2019, the company raised $18.3 million in a Series A round.

In early 2020, in a Series B round, the startup raised another $30 million.

In August, Morgan Creek Digital led the Series C funding round of the crypto-lending platform for $50 million.

Earlier in February 2021, BlockFi launched the Bitcoin Trust, aimed at institutional and other qualified investors.

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