Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar Ventures

Coindesk | Nathan DiCamillo | Feb 13, 2020

Peter Thiel backs Blockfi - Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar VenturesFresh on the heels of an $18.3 million Series A funding round in August, crypto lending startup BlockFi has secured a $30 million Series B.

Announced Thursday, the new funding will help the firm expand both its product offering and geographic footprint.

“We decided to opportunistically raise the Series B to expand the balance sheet and give ourselves the ability to invest in the things we’re doing this year,” BlockFi CEO Zac Prince said in an interview.

The Series B was led by Peter Thiel’s Valar Ventures with participation from repeat investors Morgan Creek Digital, PJC, Akuna Capital, CMT Digital, Winklevoss Capital and Avon Ventures. New investors included Castle Island Ventures, Purple Arch Ventures, Kenetic Capital, Arrington XRP Capital and HashKey Capital.

Having Hong Kong-based HashKey as an investor will help BlockFi expand into Singapore later this year, Prince said. While the company has been serving customers in the region, this would be its first physical presence there.

See:  Why DeFi’s Billion-Dollar Milestone Matters

In the Asia-Pacific region, BlockFi expects to attract a lot of institutional customers, Prince said, given the number of mining companies, asset managers, exchanges and market makers that exist there. BlockFi also plans to begin attracting more retail customers in the region as it translates its site and products into local Asian languages.

In the first quarter of this year, the startup plans to develop a mobile app and the ability to send fiat wire transfers. In Q2 2020, BlockFi plans to offer Automated Clearing House (ACH) payments.

It also expects to double the size of its 75-person team by the end of 2020, Prince said.

Continue to the full article --> here

 


NCFA Jan 2018 resize - Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar Ventures The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar VenturesFF Logo 400 v3 - Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar Venturescommunity social impact - Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar Ventures

CONGRATULATIONS TO THE 2020 FINTECH DRAFT PITCHING AND DEMO COMPANY WINNERS!



FFCON20 Pitching and Demo Winners - Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar Ventures



NCFA COVID 19 letter to government to support Fintechs and SMEs - Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar Ventures

NCFA Newsletter subscribe600 - Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar Ventures