Crypto-lending platform BlockFi has closed its $ 350 million Series D funding round.
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
Tiger Global, Bain Capital Ventures and Pomp Investments have joined the round. Investors have estimated BlockFi at $ 3 billion.
The company will spend funds to expand its staff and launch, in partnership with Visa, a credit card with cashback in bitcoin, as well as to popularize services outside the United States.
According to platform CEO Zach Prince, the latest round reflects the growth of BlockFi, the size of the industry and the business that can be created in it.
In August 2019, the company raised $ 18.3 million in a Series A funding round.
In early 2020, during the Series B round, the startup received another $ 30 million .
Morgan Creek Digital spearheaded a $ 50 million Series C funding round for a crypto-lending platform in August .
As a reminder, in February 2021, BlockFi launched the Bitcoin Trust , targeted “for institutional and other qualified investors.”