January 17, 2025
Phantom, a provider of self-custodial cryptocurrency wallet services, has secured $150 million in Series C funding, propelling the company's valuation to $3 billion. Sequoia Capital and Paradigm led the round, with A16z Crypto and Variant also contributing. The new funding is intended to support Phantom’s goal of expanding its offerings into broader consumer finance, a move it believes will position the company as a significant player in the sector.
The company’s growth trajectory has been fueled by the advantages of Solana’s blockchain, including fast transaction speeds and low fees. Phantom's user base has expanded rapidly, with the platform now serving 15 million monthly active users and handling $20 billion in annual swap volume. It also manages $25 billion in self-custody assets. Phantom has established a strong presence in the crypto industry and plans to continue expanding its influence beyond wallet services.
Phantom has also made strategic moves to enhance its platform's capabilities. In 2024, it acquired Bitski and Blowfish, companies that will help strengthen Phantom’s infrastructure and security. Moving forward, Phantom intends to pursue additional acquisitions and partnerships, focusing on improving social discovery features and simplifying peer-to-peer transactions in 2025.
About Phantom
Phantom offers a self-custodial wallet that enables users to store, send, and receive digital assets securely. The company launched in 2021, with a strong focus on creating a user-friendly experience for individuals engaging with decentralized finance. Phantom has attracted a significant user base and continues to innovate within the crypto sector.
Website: https://phantom.com/
X: @phantom
About Investors
Sequoia Capital
Sequoia Capital is a venture capital firm focused on early- and growth-stage investments. Founded in 1972, Sequoia has been involved in funding companies like Apple, Google, and WhatsApp. The firm has a broad portfolio across various sectors, including technology, healthcare, and finance.
Location: Menlo Park, CA
Website: https://www.sequoiacap.com/
Paradigm
Paradigm is a venture capital firm with a focus on investments in the crypto and blockchain sectors. Since its founding in 2018, Paradigm has backed companies such as Coinbase, Uniswap, and Chainalysis, playing a key role in supporting the growth of decentralized finance.
Location: San Francisco, California
Website: https://www.paradigm.xyz/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Kommentare