Since January 2018, the company has over $650 million in assets on the platform, with a 0% loss rate
BlockFi announced it has raised $30 million in Series B funding led by Valar Ventures and other participating investors including Morgan Creek Digital, PJC, Akuna Capital, etc.
The crypto company offers a range of financial products seamlessly interacting with each other. These products include crypto-based interest accounts which provide up to an 8.6% annual percentage yield on Bitcoin, Ether, and stablecoins.
In addition to that, BlockFi provides crypto-backed loans enabling investors to access liquidity up to 50% of an asset’s value in USD. The company offers zero-fee trading as well.
BlockFi’s growth and product expansion pipeline were the catalysts for the fundraise. The company will use the proceeds to enlarge its team and expand BlockFi’s offerings. BlockFi aims to introduce products accessible to a mainstream audience, starting with a mobile app in the nearest future.