How Much Did BlockFi Raise? Headquarters, Funding & Key Investors

BlockFi raised $1.6 M in its first seed round in February 2018, followed by $2.3 M in June 2018, then a $4 M convertible note in December 2018, $18.3 M in Series A in August 2019, $30 M in Series B in February 2020, $50 M in Series C in August 2020, $350 M in Series D in March 2021, $500 M in Series E in August 2021 and $400 M of debt financing in June 2022, bringing total funding to approximately $466 M.

How Much Did BlockFi Raise? Funding & Key Investors

BlockFi, founded in 2017 by Flori Marquez and Zac Prince, is a Jersey City, United States-based company specialising in cryptocurrency-backed lending, interest accounts, trading and wallet services.

BlockFi supports both retail and institutional crypto-asset holders by enabling USD loans secured by crypto, offering interest-earning accounts, and facilitating trading and tax reporting solutions. Its business serves miners, exchanges and ATM networks, blending fintech and crypto-infrastructure to provide liquidity and financial services in the digital-asset sector.

What Is BlockFi and What Does It Do?

BlockFi, founded in 2017 by Flori Marquez and Zac Prince, is a Jersey City, United States-based fintech company. The company develops and offers an online platform for trading crypto-assets, crypto-backed USD loans, interest-earning accounts, wallets and services for miners, exchanges and Crypto ATMs.

BlockFi employs a team of approximately 501 to 1,000 people. Its platform tracks historical transaction details, assists in tax reporting and aims to bring transparency, efficiency and access in digital-asset financial services.

How Much Funding Has BlockFi Raised?

1. Seed Round

Amount Raised: $1.6 M
Date: February 2018
Lead Investors: ConSensys Ventures
Motivation: To develop the initial platform and launch BlockFi’s services.

2. Seed Round

Amount Raised: $2.3 M
Date: June 2018
Lead Investors: Galaxy Digital
Motivation: To expand the team and enhance the platform’s capabilities.

3. Convertible Note

Amount Raised: $4 M
Date: December 2018
Lead Investors: Akuna Capital
Motivation: To support product development and market expansion.

4. Series A

Amount Raised: $18.3 M
Date: August 2019
Lead Investors: Valar Ventures
Motivation: To scale operations and increase market presence.

5. Series B

Amount Raised: $30 M
Date: February 2020
Lead Investors: Valar Ventures
Motivation: To enhance product offerings and expand into new markets.

6. Series C

Amount Raised: $50 M
Date: August 2020
Lead Investors: Morgan Creek Digital
Motivation: To accelerate growth and develop new financial products.

7. Series D

Amount Raised: $350 M
Date: March 2021
Lead Investors: Bain Capital Ventures, Bracket Capital, DST Global, Pomp Investments, Tiger Global Management
Motivation: To expand globally and enhance the platform’s infrastructure.

8. Series E

Amount Raised: $500 M
Date: August 2021
Lead Investors: Rose Park Advisors
Motivation: To further scale operations and explore new market opportunities

9. Debt Financing

Amount Raised: $400 M
Date: June 2022
Lead Investors: FTX US Derivatives
Motivation: To bolster the balance sheet and ensure platform stability during a market downturn.

Total Funding Raised: $466 M

Current Valuation: $4.8 Billion (as of Nov 2022)

Latest Funding Date: June 2022

Key Investors

1. Fidelity Investments

Details: Major U.S. asset manager offering investment services and venture backing.
Investment Focus Areas: Fintech, crypto infrastructure, institutional digital-asset services.
Notable Investments: BlockFi, other digital-asset platforms.

2. The Private Shares Fund

Details: Investment vehicle backing late-stage private companies.
Investment Focus Areas: High-growth technology, fintech, alternative finance.
Notable Investments: BlockFi, other private tech firms.

Where Is BlockFi’s Headquarters?

BlockFi is headquartered in Jersey City, New Jersey, United States. This location places it near the New York metropolitan financial ecosystem, providing proximity to major financial institutions, talent in fintech and regulatory oversight.

What’s Next for BlockFi?

Going forward, BlockFi’s future is shaped by its 2022 debt financing and evolving crypto-regulation landscape. Having built significant funding and valuation, the company must navigate heightened regulatory scrutiny of crypto-lending, manage counterparty risks (including exposure to large crypto firms), and rebuild trust with users and institutions.

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