Cryptocurrency exchange Blockchain.com has announced the completion of a $110 million Series E funding round, led by UK investment management firm Kingsway Capital. Other participants in the round include Baillie Gifford, Lakestar, Lightspeed Venture Partners, and Coinbase Ventures.
The company was valued at $14 billion after raising an undisclosed amount in a Series D funding round in March 2022. However, the latest Series E round values Blockchain.com at less than half of that previous valuation. Manny Stotz, founder and CEO of Kingsway Capital, and Nicolas Brand, a partner at Lakestar, will join Blockchain.com's board of directors following this funding round.
Kingsway Capital also led another undisclosed funding round for Blockchain.com in the third quarter of last year.