Member Article

Sir Richard Branson has just contributed to the largest FinTech funding round since Brexit

European tech firm Blockchain has just closed a $40m Series B round that is being touted as the biggest FinTech funding round on the continent since the Brexit vote.

The company, which provides digital wallets for cryptocurrencies, has raised the cash with backing from some major investors and VCs including GV (formerly Google Ventures), Nokota Management, Digital Currency Group and existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson.

Headquartered in Luxembourg with a presence in London, Blockchain was one of the early movers in the cryptocurrency space back in 2011 when it was founded as an open source software project.

The service now powers the largest digital asset platform in the world with its digital wallets utilised by millions of users and its technology underpinning the growth of digital currencies such as Bitcoin.

Tom Hulme, General Partner at GV, commented: “The pace of innovation in the digital currency space is unmatched.We were impressed by Blockchain’s consistent market traction and dedication to building secure financial products for an increasing number of users.”

According to Blockchain, the latest funding round will support its continued global expansion and localization, and will also help to fund research and development into emerging digital assets and currencies.

Blockchain’s CEO and Co-Founder, Peter Smith said: “The 14 trillion dollar financial services industry hasn’t meaningfully changed in over a century. Blockchain is on a mission to create a financial system that is faster, more inclusive, and radically different than the status quo.”