Lakestar, GV lead $40m series-B for Blockchain

Existing investors including Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin and Richard Branson also took part in the round, alongside new backers Nokota Management and Digital Currency Group.

The fresh capital will enable the company to undertake international expansion and invest in research and development.

Since its previous investment round in 2014, Blockchain has increased its number of accounts from 2.3 million to more than 14 million, according to the company's website.

Lakestar is currently investing from its second fund, which held a final close on €350m in August 2015.

The investment round brings the total amount raised by Blockchain to $70m.

Previous funding
Lightspeed and Wicklow Capital led a $30m series-A round for Blockchain in October 2014, with co-investment from Branson, Mosaic, Prudence and various business angels.

Company
Founded in New York in 2011 and now headquartered in Luxembourg, Blockchain is a platform that enables users to transact using digital currency Bitcoin. It authenticates and tracks digital assets throughout their lifetime. The platform processes 160,000 transactions per day and is available in 140 countries.

People
Blockchain – Peter Smith (CEO, co-founder); Nic Cary (president, co-founder).

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