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UK-founded tech startup Blockchain secures $40m Series B

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Blockchain, a UK-founded software platform for digital assets, has closed a $40m (£31.6m) Series B round.

The round was led by Lakestar with participation from 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 (Virgin Group).

Dharmash Mistry, general partner at Lakestar, said: “We are thrilled to lead the investment in Blockchain and believe in their vision of a more transparent, affordable, and fair financial future. To have Blockchain, the leader in FinTech, based in Europe reinforces what innovation and impact the Eurozone is capable of achieving.”

Founded in 2011, the firm is highly popular among digital currency enthusiasts and is the world’s most popular bitcoin wallet provider. Blockchain is to use this new funding to support global expansion and localisation, plus research and the development of emerging digital assets. Back in 2014, the Blockchain raised $30.5m

Blockchain CEO and co-founder, Peter Smith said: “The $14tn 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.”

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