Richard Branson participates in $40m Series B for Blockchain
Bitcoin platform, which has facilitated more than 100 million transactions across 140 countries, will use funding to accelerate international growth
Blockchain, a Luxembourg and London-based bitcoin platform, has landed $40m in Series B funding from GV, Nokota Management, Digital Currency Group, Virgin, and Sir Richard Branson.
Existing investors Lightspeed Venture Partners, Mosaic Venture Partners and Prudence Holdings also participated in the round.
Founded in 2011 by Peter Smith, Nicolas Cary, Ismail Malik and Ben Reeves, Blockchain’s production blockchain platform aims to make using bitcoin – which was one of out Tech Trends for 2017 – safer, easier and more secure for consumers and businesses.
The company claims its software has been used for more than 100 million transactions across 140 countries and over 14 million bitcoin wallets. It offers more than 20 currency conversion rates and is available in over 25 languages. It also provides tools and real time transaction data to for analysis by developers and users.
This latest funding, which follows a $30m Series A in October 2014, will be used to fuel Blockchain’s global expansion and to invest in research and development into emerging digital assets and currencies.
Smith, Blockchain’s CEO, said: “The 14 trillion dollar financial services industry hasn’t meaningfully changed in over a century. Blockchain is on a mission to create a financial system that is faster, more inclusive, and radically different than the status quo.”
Tom Hulme, general partner at GV, added: “The pace of innovation in the digital currency space is unmatched.We were impressed by Blockchain’s consistent market traction and dedication to building secure financial products for an increasing number of users.”