NYC based crypto financial products company has raised a $30m Series B led by Valar Ventures.
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Six months after raising an $18.3M Series A, BlockFi continues charting rapid growth and expansion
BlockFi is the only crypto company to offer a suite of financial products that seamlessly interact with one another. These products include crypto-based interest accounts providing up to an 8.6% annual percentage yield on Bitcoin, Ether and stablecoins; crypto-backed loans which allow investors to access liquidity up to 50% of an asset’s value in USD; and zero-fee trading. The company now boasts more than $650M in assets on the platform, with a 0% loss rate across its entire loan portfolio since the company began lending in January 2018. BlockFi grew revenue more than 20x in 2019. The company’s notable growth and the rapid product expansion pipeline were the catalysts for this fundraise.
