Digital asset pockets Phantom introduced has raised $150 million from a Collection C funding spherical led by enterprise capital corporations Sequoia Capital and Paradigm, valuing the agency at $3 billion.
Andreessen Horowitz and Variant additionally participated within the funding spherical.
“Our mission has all the time been to make crypto extra accessible, intuitive, and secure for everybody. This newest spherical of funding permits us to take a position additional in innovation and finally modernize shopper finance,” Phantom’s CEO Brandon Millman said within the Jan. 16 announcement.
The crypto pockets service supplier mentioned it will use the $150 million to launch its soon-to-be-released social discovery feature and simplify peer-to-peer funds for its customers.
Supply: Phantom
The $3 billion valuation marks a 150% enhance from the $1.2 billion valuation it obtained from its $109 million Collection B funding spherical in January 2022.
Phantom presently boasts 15 million month-to-month energetic customers and handles over $20 billion in annual swap quantity.
The crypto pockets service supplier claimed its income and buying and selling volumes for the ultimate two months of 2024 — when Republican Donald Trump received the US election — have been “multiples larger” than rivals Coinbase Pockets and MetaMask mixed.
Phantom briefly grew to become the second-most popular application within the Apple App Retailer’s utilities part on Nov. 20 when the crypto market cap was pushing towards $4 trillion.
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In the meantime, Phantom announced on Dec. 6 that it will combine layer-1 blockchain Sui, making it the fourth blockchain that Phantom helps behind the Bitcoin, Ethereum and Solana networks.
Phantom was based in 2021 in San Francisco, California, by Millman, chief product officer Chris Kalani and chief expertise officer Francesco Agost.
Phantom additionally offers non-custodial companies for customers trying to safe their non-fungible tokens.
On Jan. 3, the corporate refuted rumors of a potential token launch to enhance its incoming social discovery characteristic, which is able to launch someday in “early 2025.”
“We’ve seen some hypothesis about an airdrop tied to this characteristic, so to make clear: we shouldn’t have any plans to launch a token,” the non-custodial crypto pockets supplier said in a Jan. 3 X submit.
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