Blockchain.com launched in 2011 as a blockchain explorer and later expanded into a cryptocurrency wallet and exchange that lets users hold, buy, sell and trade tokens. The platform has onboarded more than 90 million wallets for over 40 million verified users and has facilitated in excess of $1 trillion in crypto transactions. The company reported a $270 million loan exposure to Three Arrows Capital and was materially affected by the 2022 crypto market downturn. In July 2022 Blockchain.com cut roughly 25% of its staff (about 150 people) and closed its Argentinian office to reduce costs. Recent financing and board changes accompany the company’s efforts to address the fallout from the market stress. Blockchain.com began as a blockchain explorer and is best known for its open-source noncustodial wallet that leaves users in control of private keys. The company also operates a cryptocurrency exchange and offers services to institutional investors, including custody and large over-the-counter transactions. It reports 31 million users who have verified their identities and says active users have tripled over the past 12 months. CEO Peter Smith wrote that the company is highly profitable across each of its business lines. The new funding is intended to support rapid growth with late-stage investors and the company expects to pursue acquisitions in the future. Blockchain.com began as a blockchain explorer (originally named Blockchain.info) and later built an open-source bitcoin wallet that now supports additional cryptocurrencies and stablecoins. Its wallet is noncustodial, meaning users control their private keys, and the company has added features to mitigate loss of access. More recently the firm launched its own exchange to let wallet users trade more easily and expanded services for institutional investors, including order execution, custody, lending and OTC transactions. The company reports that 65 million wallets have been created via its website and mobile apps. Since 2012, 28% of bitcoin transactions have been sent or received by a Blockchain.com-managed wallet. Overall fundraising totals and specific revenue figures were not disclosed in the article.

Total raised

$530M

Funding rounds

3

Latest round

Series E

Latest activity

Nov 2023