Crypto Wallet Startup Blockchain.com Raises $120M From Investors Including Google Ventures

Blockchain.com on Wednesday disclosed $120 million in fresh funding from a lineup of “macro investors” seeking to power the wallet startup’s growing institutional markets business through bitcoin’s current bull run.

• Moore Strategic Ventures, Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, Google Ventures, Lakestar and Eldridge led the round, CEO Peter Smith said in a blog post.
• The institutional funding is set to back an increasingly institutional-centric company. Blockchain.com now makes enough cash from its institutional clients to cover all global operating costs and expects that business to continue “growing exponentially.”
• “The fact that the best macro investors in the world participated in our latest fundraise is further proof that institutions are taking a serious look at their crypto strategy,” Smith said.