Blockchain.com Raises $110 Million in Series E Funding, Lowering Its Valuation by More than Half

Cryptocurrency exchange Blockchain.com has effectively raised $110 million in Series E round, led by Kingsway Capital.

Blockchain.com Raises $110 Million in Series E Funding, Lowering Its Valuation by More than Half

According to the information company Bloomberg, The Blockchain.com exchange just finished its Series E round with up to $110 million in capital raised.

Cryptocurrency exchange Blockchain .com raises $110 million at a fraction of its former worth in a round led by Kingsway – the most recent indicator that cryptocurrency investing is choosing up https://t.co/kpyqbkQ7yJ

— Bloomberg Crypto (@crypto) November 14, 2023

British investment fund Kingsway Capital prospects capital raising round, Blockchain.com published information and facts this morning (November 15). Additionally, there is also participation from Baillie Gifford, Lakestar, Lightspeed Venture Partners, Coinbase Ventures, and quite a few other organizations and people.

As element of the funding round, Manny Stotz, founder and CEO of Kingsway Capital and Nicolas Brand, companion at Lakestar, will join Blockchain.com’s investor board.

Kingsway Capital also led Blockchain.com’s other undisclosed funding round that closed in Q3 2022.

Citing near sources, Blockchain.com’s valuation is now significantly less than $seven billion. Although this firm did not attain a valuation of up to $14 billion in March 2022, soon after the Series D round the worth of the capital increase was not announced.

Blockchain.com is one particular of the organizations hit really hard by the collapse of Three Arrows Capital, leaving as a lot as $270 million as the two events lent income to every single other. Since then, Blockchain.com has had to reform its framework, fire staff members various instances, minimize salaries and bonuses, near its Argentina workplace, and disband its asset management division to keep latest operations. . And probably for the reason that of these problems, Blockchain.com had to place its open IPO aspirations on hold final 12 months.

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