Bitcoin Startup Blockchain Raises $40 Million Series B

Bitcoin wallet software startup Blockchain has raised $40m in Series B funding to continue its mission of improving financial services.

Jun 22, 2017 at 11:08 a.m. UTC
Updated Sep 11, 2021 at 1:28 p.m. UTC

Bitcoin wallet software provider Blockchain has raised $40m in Series B funding.

Investors in the round included Digital Currency Group, GV, Lakestar, Lightspeed Venture Partners, Mosaic Venture Partners, Nokota Management, Prudence Holdings and Virgin. Billionaire investor Richard Branson also participated in the round.

The funding is the largest Series B raised so far in 2017, though falling short of the $55m raised by blockchain startup Ripple in 2016.

In statements, the company sought to suggest that the investment may help position blockchain as a leader in Europe's financial technology industry. Blockchain offers a bitcoin wallet service, though it has largely focused on optimizations of this service (eschewing new products).

Still, that hasn't stopped the company from making prestige announcements that showcase its growing influence in the sector. In December, Blockchain added former Barclays executive Antony Jenkins to its board, while former UK Prime Minister David Cameron helped the company open its London office in February.

The news comes on the heels of rumors bitcoin wallet provider, brokerage and exchange service Coinbase is raising a new funding round valued at $1bn following a rise in the price of bitcoin and an uptick in global interest in the technology.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Blockchain.

Image via Consensus 2017

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
First Mover Asia: USDC Hasn’t ‘Flippened’ USDT, but Trader Preferences Are Changing; Cryptos Rise Despite Bearishness

A Glassnode analyst suggests the collapse of the UST token has triggered a change in investors' stablecoin preferences; bitcoin holds above $30,000.

A Glassnode analyst suggests the collapse of the UST token has triggered a change in investors' stablecoin preferences; bitcoin holds above $30,000.

2
Musk Sets New Condition for Twitter, Citi Says Terra’s Fallout Unlikely to Hit Wider Financial System

The most valuable crypto stories for Tuesday, May 17, 2022.

The most valuable crypto stories for Tuesday, May 17, 2022.

3
Market Wrap: Cryptos and Stocks Mixed Amid Bearish Sentiment

BTC is stabilizing around $30K while stock market volatility begins to fade.

BTC is stabilizing around $30K while stock market volatility begins to fade.

4
New Data Shows Underground Bitcoin Mining Thriving in China

The U.S. has also expanded its lead in the global hashrate competition.

The U.S. has also expanded its lead in the global hashrate competition.