Phantom is a multichain wallet focused on making crypto safer, easier, and more accessible for consumers. The product emphasizes self-custody and cross-chain access, and gained dominance largely due to Solana by offering fast, low-cost transactions and a smooth user experience. With this funding, Phantom plans to make bigger bets to accelerate crypto adoption and become the world’s biggest and most trusted consumer finance platform, investing further in innovation to modernize consumer finance. The company reports 15 million monthly active users, $20 billion in annual swap volume, an average of 12 app opens per day, 850 million onchain transactions, and $25 billion in self-custody assets. In November and December, Phantom’s active traders, trading revenue, and trading volume were multiples higher than MetaMask and Coinbase Wallet combined. The company positions itself as the face of crypto for a new generation of users, unencumbered by the limits of centralized exchanges. Phantom builds a popular wallet app for the Solana ecosystem with a site, Chrome extension and newly rolling out iOS and upcoming Android native apps. The product serves as a primary user gateway to exchanges, smart contracts and web3 services and the team emphasizes user safety and education. Phantom is pursuing a multi-chain strategy and plans to add support for an EVM‑compatible blockchain to broaden developer and consumer reach. The company has grown active users from 40,000 at the time of its Series A to 2.1 million today and reports onboarding about 100,000 users per week. Phantom currently has around 20 employees and plans to scale the team with new funding. CEO Brandon Millman has highlighted work on user-safety features as a near-term priority. Phantom builds a browser-based cryptocurrency wallet that lets users interact with decentralized applications, swap tokens, and collect NFTs. It is best-known within the Solana community, where it has become the go-to wallet for applications on that blockchain. The company is expanding compatibility with Ethereum and other blockchains to be a product for a “multichain world.” Phantom plans to integrate more sophisticated DeFi mechanisms into the wallet, including staking and in-wallet swaps. The startup says it has about 40,000 users of its existing wallet product. Co-founders Brandon Millman (CEO), Chris Kalani (CPO) and Francesco Agosti (CTO) previously worked together at crypto infrastructure startup 0x.

Total raised

$268M

Funding rounds

3

Latest round

Series C

Latest activity

Jan 2025