Fireblocks raises $550m in Series E funding

By Edlyn Cardoza

Fireblocks recently announced that it has officially raised $550 million in Series E funding. This brings the Company’s valuation to $8 billion, making Fireblocks the highest-valued digital asset infrastructure provider globally.

It’s a tremendous vote of confidence in the Fireblocks platform, coming on the heels of a highly successful year. They reached some significant milestones in 2021, growing from 150 customers to more than 800 customers and surpassing $2 trillion in assets transferred.

This new capital infusion, co-led by D1 Capital Partners and Spark Capital, with participation from 10 new investors, including General Atlantic, Index Ventures, Mammoth, CapitalG, Altimeter, Iconiq Strategic Partners, Canapi Ventures, and Parafi Growth Fund, will help them continue removing the complexity of working with digital assets.

The global economy is embracing digital assets in a big way, and Fireblocks believes that crypto adoption will significantly accelerate over the next year. 55 of the world’s top 100 banks already have crypto and blockchain exposure, and nearly all are planning to expand their footprint in the digital asset landscape.

Moreover, 26% of U.S. households have crypto investments, and that number is climbing swiftly. The enormous demand for crypto among consumers represents a huge market opportunity for financial services, corporates, FinTech firms, new Web 3 businesses, exchanges, and other institutions.

“Everything that’s happening at the cross-section of DeFi, NFTs, gaming, streaming, and entertainment will be the biggest emerging use cases in the next year and a half. People need to think about infrastructure that’s future-proof to layer more providers into the stack. You want to be agile, and consider whether the platform you’re selecting offers the security, custody, and control over assets that can apply to these use cases,” said Michael Shaulov, CEO and Co-Founder.