Ethereum-focused solutions provider ConsenSys closed a $200 million funding round. Investors, including HSBC, Marshall Wace and Coinbase Ventures, valued it at $3.2 billion.
🔈We have two exciting announcements today!
🦊@metamask now has 21M+ monthly active users.
📈We’ve raised $200M.https://t.co/FLjkfCIJaG
— ConsenSys (@ConsenSys) November 17, 2021
The funds will be used to develop Infura, the infrastructure platform, and the non-custodial MetaMask wallet, as well as to expand its staff.
Infura is used by more than 350,000 developers — over the year the number grew by 250%. The solution is popular in the DeFi sector — the platform underpins the decentralized exchange (DEX) Uniswap and the MakerDAO protocol. It is also used by creators of NFT-projects such as Art Blocks and Sorare.
The number of active MetaMask users, which is also built on Infura, has grown 36-fold over the past year and surpassed 21 million. In October 2020, ConsenSys added a DEX-aggregator feature to the wallet, enabling token swaps directly in the app.
In December of that year the company launched an institutional version of the product.
“Adoption has been so rapid that since the conclusion of the summer deal, some of our key KPIs have more than doubled,” said Joseph Lubin, head of the company.
MetaMask charges 0.875% on each transaction conducted through its plugin. This is significantly higher than the fees on other decentralised platforms such as SushiSwap and Curve. According to Dune Analytics, the wallet generated more than $208 million in revenue for the company in 2021.
In November 2021, Lubin hinted at the possible launch of a MetaMask native token.
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