Bitcoin and Ethereum BlockFi lender raises $ 30M

At a funding round series B led by Valar Ventures, the venture capital firm of Peter Thiel (co-founder PayPal), the crypto-lender BlockFi again raised funds from renowned investors.

Founded in 2018 in New York, the cryptocurrency loan platform BlockFi had already raised $ 78 million in previous rounds of funding.

During a B series conducted by Valar Ventures, the New York crypto-lender collected An additional $ 30 million, bringing its total funding to approximately $ 108 million.

Among the investors, there are several former participants such as Morgan Creek Digital, PJC, CMT Digital, Avon Ventures, Akuna Capital or Winklevoss Capital. On the new side, we count Castle Island Ventures, Purple arch, Kenetic Capital, Arrington xrp and HashKey Capital.

Sure BlockFi, users can perform loans in fiat currencies by leaving their cryptocurrencies as collateral.

Last year, the startup also launched a savings product for Ethereum and Bitcoin with an annual yield greater than 6%. More recently, it unveiled a service cryptocurrency trading without commission.

BlockFi was one of the most successful companies we have invested in from the start, "said Andrew McCormack, partner at Valar Ventures.

Today, BlockFi prides itself on holding $ 650 million asset on its platform and having multiplied its turnover by 20 since the start of 2019.

Thanks to this new funding, the company plans to accelerate its international development, particularly in Asia, and to double its workforce.