Phantom wallet raises $109 million in Series B funding

The Phantom wallet developers on Solana closed a $109 million Series B funding round. It was led by venture firm Paradigm.

We are also excited to announce our $109M Series B led by @paradigm! Thanks to the 2M+ MAU in our community, Phantom has an opportunity to become the mainstream, user-friendly gateway to Web3. https://t.co/J0RyouBIo3

— Phantom (@phantom) January 31, 2022

The project was valued at $1.2 billion.

Existing investors, including Andreessen Horowitz, Variant Fund, Jump Capital, DeFi Alliance and Solana Ventures, participated in the round.

Phantom CEO Brandon Millman, in a comment to The Block, clarified that the raised funds will help the project expand. He said that in the first half of 2022 the developers plan to launch an Android app.

The iOS version was released on January 31.

Phantom for iPhone is finally here! Everything you can do on desktop, now in your pocket. The power of Phantom and @solana everywhere you go!

Get it now 👉 https://t.co/udlZGRpsz5 pic.twitter.com/UwOsSbMm8n

— Phantom (@phantom) January 31, 2022

Previously, the wallet was available as extensions for Chrome, Brave, Firefox and Edge. The mobile version of the app announced in November 2021.

Phantom aims to grow the team from 20 to at least 40 people in the near future. Millman noted that these are employees with various functional roles.

In July 2021, the operator of the digital wallet raised $9 million as part of a Series A round led by Andreessen Horowitz.

In September, the decentralized streaming platform Audius was integrated with Phantom.

Earlier, the wallet developers announced auctions for access to the beta version of the iOS app in a Dutch-auction format.

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