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Home / Market News / Blockchain.info Adds $40 Million In latest Funding Round From Alphabet INC & Co

Blockchain.info Adds $40 Million In latest Funding Round From Alphabet INC & Co

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As far as cryptocoins ICOs have gone, few came in as big as the funding rounds for the 21 million initiatives or the first offering produced by Ether. However recently, blockchain.info, one of the oldest Bitcoin wallets in existence received its largest ever chunk of funding in the form of $40 million from cooperation between Lakestar and Google Ventures now known as GV with aid from the Digital Currency Group who also own the Coindesk platform. Based in London, the current financial climate looked doomed considering the Brexit effectively prompted a mass exodus of fintech companies, the company has done extremely well even claimed to be the biggest fintech investment in the post Brexit economy.

blockchain.info

“Blockchain was one of the first digital currency wallets, quickly grew to market leadership and has only extended its lead since then, stated Lightspeed’s board member Jeremy Liew. Now that bitcoin and Blockchain have started to get broader traction, they are the best positioned to become the mainstream leaders.”

Blockchain.info has been one of the original bitcoin web wallets, garnering well over15 million users, it is certainly one of the most popular ones for bitcoin storage.

To conclude, bloclcahin.info aim to use the extra funding to help increase its product range and increase its userbase by developing versions of the service localized into many languages to penetrate emerging markets such as Nigeria and South Africa. Considering the team consists of merely 50 members extra funding has also opened possibilities to recruit more enthusiastic developers as the company will have to increase scalability considering the bitcoins growth from 2011 has been unprecedented on every scale.

This is also the biggest funding round the company has ever had compared to 3 years ago where they still managed to raise just over $30 million. You can create a wallet on the Blockchain.info platform by following our simple and step by step guide here!

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