TechFlow news: Blockchain.com, a cryptocurrency exchange, has raised $110 million in its Series E strategic funding round, led by UK-based investment management firm Kingsway Capital, with participation from Baillie Gifford, Lakestar, Lightspeed Venture Partners, Coinbase Ventures, and others.
Following the funding round, Manny Stotz, founder and CEO of Kingsway Capital, and Nicolas Brand, partner at Lakestar, have joined Blockchain.com's board of directors.
According to a source familiar with the matter, the company’s valuation after this round is less than half of its $14 billion valuation reached in spring 2022. Last autumn, Blockchain.com completed a prior strategic funding round also led by Kingsway Capital, after which Kingsway Capital's founder Manny Stotz became an advisor to the company. In March of last year, Blockchain.com closed its Series D financing led by Lightspeed Venture Partners, achieving a post-money valuation of $14 billion.
