BlockFi secured $50 Million in Series C Funding led by Morgan Creek Digital

BlockFi, a New Jersey-based cryptocurrency lender and financial services company, has recently secured $50 million in Series C funding round.

BlockFi is founded by the Zac Prince. It provides wealth management products, all supported by the blockchain technology.

As of now, the company serves clients across the globe and in all US States, with the USD loans backed by the crypto, trading, and interest-earning accounts.

Anthony Pompliano, Co-Founder and Partner at Morgan Creek Digital, said, "BlockFi’s platform offers investors unparalleled capabilities in the digital asset ecosystem. We’re excited to back this world-class team as they continue to add new products and expand into incremental areas that are disrupting traditional finance".

Zac Prince, CEO, and Founder, BlockFi, said, "The past 12 months at BlockFi have been nothing short of amazing, and if anything, it’s a testament to the staying power of bitcoin and other digital assets. With the support from our partners, we’re creating a platform for investors where they aren’t investing in just digital assets anymore—they’re investing in the future, greater financial empowerment, and accessibility."

The round was backed by the Morgan Creek Digital with participation from Valar Ventures, Castle Island Ventures, CMT Digital, Winklevoss Capital, Purple Arch Ventures, NBA Player Matthew Dellavedova, SCB 10X, Avon Ventures, and others.

Post funding, Anthony Pompliano, the Managing Partner and Co-founder at Morgan Creek Digital, will join the BlockFi Board of Directors team.

The company, as of now, has plans to use the new funds to grow the team and expand its business lines, which includes the upcoming release of bitcoin reward-based credit card and support for additional assets and currencies.

PC: Pablo, Pixabay