BlockFi, a NYC-based wealth management solution for crypto investors, raised $18.3m in Series A funding.
The round was led by Valar Ventures with participation from Winklevoss Capital, Galaxy Digital, ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek and PJC.
The company intends to use the funds to add new products to its existing platform, which includes interest-earning accounts for Bitcoin and crypto-backed USD loans.
Led by CEO & Founder Zac Prince, and Co-Founder Flori Marquez, BlockFi BlockFi offers financial products that enable cryptocurrency holders to put their crypto to work. The company services customers worldwide, including 47 U.S. states, with interest-earning accounts and low-cost USD loans backed by crypto.
All customer crypto balances are stored in a custodial account with Gemini.