October 28, 2021

Fireblocks crypto startup raises $133M in funding round with BNY Mellon

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Cryptocurrency startup Fireblocks has raised $133 million in a Series C funding round.

The investment round was led by venture capital firms Coatue, Ribbit and Stripes, with strategic investment from BNY Mellon and Silicon Valley Bank.

Michael Shaulov, CEO of Fireblocks, said the cash injection will allow the company to expand the settlement infrastructure needed to onboard new customers as crypto adoption heats up:

“While we have no plans to become a bank, we believe our infrastructure will lend itself perfectly to power an entirely new era of financial services.”

Regarding his firm’s investment in Fireblocks, Micky Malka of Ribbit Capital said, “We are standing at the cusp of the biggest transformation that the world’s financial system has ever seen,” adding that Fireblocks is at the “forefront of this revolution.”

Series C funding is usually geared toward more developed projects that have already achieved a fair degree of success. These companies require additional capital to help scale their products and services into new markets or even to acquire other businesses.

Fireblocks was founded in 2018 by veterans of Israeli military intelligence including Title: Fireblocks crypto startup raises $133M in funding round with BNY Mellon
Sourced From: cointelegraph.com/news/fireblocks-crypto-startup-raises-133m-in-funding-round-with-bny-mellon
Published Date: Thu, 18 Mar 2021 12:04:52 +0000