The crypto-custody provider Fireblocks has raised $550 million in a Series E funding round, valuing the company at $8 billion, according to a press release.<\/p>\n
<\/p>\n
The round was led by D1 Capital Partners and Spark Capital. It also included General Atlantic, Index Ventures, Mammoth, CapitalG (an independent growth fund within Alphabet), Altimeter, and ParaFi Capital.<\/p>\n
Earlier investors also joined the round: Sequoia Capital, Coatue, Ribbit, Bank of New York Mellon, Paradigm and SCB10x.<\/p>\n
Fireblocks CEO Mikhail Shaulov, in a discussion with The Block<\/a>, described the company’s results for the past year as ‘phenomenal’. He noted that the number of platform users grew from 150 to 800, and revenue rose by 600%.<\/p>\n Shaulov did not specify revenue in absolute terms, but stressed that the firm is not yet profitable.<\/p>\n Founded in 2018, Fireblocks provides institutional players with a platform for secure custody, access to DeFi services such as Aave Arc<\/a>, and opportunities for staking crypto assets and tokenisation.<\/p>\n Custodian services are used by Bank of New York Mellon, Revolut, Galaxy Digital, BlockFi, Deribit, eToro, CoinShares, Three Arrows Capital, and B2C2. Assets on the Fireblocks platform amount to $45 billion.<\/p>\n The funds will be allocated to expanding the client base, supporting various DeFi services and new blockchain platforms such as Terra, and increasing staff\u2014from 300 to 600.<\/p>\n In July Fireblocks raised $310 million<\/a> at a valuation of $2 billion.<\/p>\n Follow ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full news feed, ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":" The crypto-custody provider Fireblocks raised $550 million.<\/p>\n","protected":false},"author":1,"featured_media":56699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1386,1156,1133],"class_list":["post-56698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-fireblocks","tag-institutional-investors-and-whales","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=56698"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56698\/revisions"}],"predecessor-version":[{"id":56700,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56698\/revisions\/56700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56699"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}