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BlockFi in Discussions to Raise 'Several Hundred Million' in Latest Round: Report
Unnamed sources tell The Information that BlockFi is seeking another mega-round.
Cryptocurrency lender BlockFi is in discussions to "raise several hundred million dollars at a valuation near $5 billion," according to a report in The Information citing two unnamed sources.
STORY CONTINUES BELOW
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- The Silicon Valley tech publication said the hedge fund Third Point Management and London-based venture firm Hedosophia are spearheading the round, which will also include existing investors.
- BlockFi raised a $350 million Series D at what it said was a $3 billion valuation in March of this year.
- In August of last year it raised a $50 million Series C.
- The reported fundraising effort comes after Circle topped crypto fundraising rankings with a $440 million round late last month.
- It also follows a botched promotion that saw BlockFi incorrectly handing out whopping sums of bitcoin to its users.
Read more: BlockFi’s Botched Promo Payouts Continued Into April, Adding More Confusion for Users
James Rubin
James Rubin was CoinDesk's Co-Managing Editor, Markets team based on the West Coast. He has written and edited for the Milken Institute, TheStreet.com and the Economist Intelligence Unit, among other organizations. He is also the co-author of the Urban Cyclist's Survival Guide. He owns a small amount of bitcoin.
