Startup Blockchain.com said it raised new funding that values the company at about $14 billion, more than doubling its worth in a sign that cryptocurrency firms still enjoy the favor of investors in turbulent venture capital markets.
The financing round is being led Baillie Gifford & Co, according to people familiar with the matter asked for anonymity because the discussions are private. Lightspeed Venture Partners is also leading the round, according to one of the people.
Representatives for Baillie Gifford and Lightspeed didn't immediately respond to requests for comment. A representative for Blockchain.com declined to comment on the backers involved.
Founded in 2011, Blockchain.com allows users to buy and store digital tokens such as Bitcoin and is led by Chief Executive Officer Peter Smith. In March 2021, the firm raised $300 million at a $5.2 billion valuation in a round that included Lightspeed and VY Capital.
The UK company's single largest investment as of last April was from Edinburgh-based Baillie Gifford, which put $100 million into Blockchain.com.
Blockchain.com last year said it was moving its US headquarters from New York to Miami, and is leasing a 22,000-square-foot (2,044-square-meter) office in Miami's Wynwood arts district, and will eventually employ about 300 people in the building.
The company has 37 million verified users with 82 million wallets created, and more than $1 trillion transacted, according to its website.