Blockchain.com raises fresh capital in round led by Kingsway Capital: Bloomberg

Blockchain.com raised an undisclosed amount of additional capital in a round led by UK-based investment firm Kingsway Capital, Bloomberg reported.

While the company didn’t disclose the total amount, Blockchain.com said that the deal closed sometime during the third quarter and also included Baillie Gifford and Lightspeed Venture Partners as investors.

Blockchain.com was valued at $14 billion earlier this year in a Series D funding round led by Lightspeed Venture Partners.

The crypto company provides services ranging from trading to lending and custody. Just recently, it gained Singapore’s approval to offer payment services. Founded in 2011, it is also one of the oldest in crypto.

The firm had significant exposure to Three Arrows Capital, having lent out $270 million before the hedge fund collapsed.

“Three Arrows is rapidly becoming insolvent and the default impact is approximately $270 million worth of cryptocurrency and US dollar loans from Blockchain.com,” said a shareholder letter written by Blockchain.com CEO Peter Smith in July.

Source