Fireblocks has raised $550 million in Series E funding, co-led by D1 Capital Partners and Spark Capital with participation from General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s independent growth fund), Altimeter, Iconiq Strategic Partners, Canapi Ventures, and Parafi Growth Fund. This brings the company’s valuation to over $8 billion.
Adding to the support of existing investors such as Sequoia Capital, Coatue, Ribbit, Bank of New York Mellon, Paradigm, DRW Venture Capital, Tenaya Capital and SCB10x, Fireblocks has become the highest valued digital asset infrastructure provider to date.
With $2 trillion in digital assets transferred, the Fireblocks’ platform now supports more than 20 blockchains and 1,000 cryptocurrencies, and is powering digital asset use cases across trading, gaming, NFTs, digital securities, and payments that will allow more businesses, web 2.0 leaders and enterprises, including all financial institutions, to participate in the digital asset economy.
In the last year, Fireblocks grew at an exponential pace from 150 to over 800 customers around the world, with institutions in the Asia Pacific and Europe, the Middle East, and Africa regions leading the way. The Fireblocks Network, which connects members to the crypto capital markets ecosystem and enables instant settlements, is used by customers such as Bank of New York Mellon, Revolut, Galaxy Digital, Crypto.com, BlockFi, Deribit, eToro, CoinShares, SwissBorg, 3AC, B2C2 and more. To date, Fireblocks customers have amassed $45 billion assets under custody on the platform. Additionally, with the launch of Aave Arc, Fireblocks has become the first to enable decentralized finance for institutional players.
“The adoption of cryptocurrencies across the financial and commercial sectors is going to accelerate in 2022, and Fireblocks’ mission is to be a strategic partner for these new market entrants,” said Fireblocks CEO, Michael Shaulov, in a statement. “The new round of financing will accelerate our ability to support our clients globally, as well as heavily invest in innovation for DeFi, NFTs and payments, and allow new and established financial institutions to employ direct custody rather than relying on third parties, which will increase their competitive advantage.”
As the pioneer of MPC technology for digital assets, Fireblocks has established a secure multi-layer infrastructure that is at the heart of its platform. Along with these advancements, every business now has the capacity to accept digital assets and cryptocurrencies securely and conveniently, paving the way for all enterprises to become crypto businesses.
“Fireblocks has become a key driver of crypto market growth around the world, with an estimated 15% of daily crypto transaction volume secured through their infrastructure,” said Dan Sundheim, founder of D1, a New York-based investment firm. “This new injection of capital will further enable Fireblocks to onboard the next wave of businesses into the digital asset ecosystem.”