Fintech Startup Blockchain Raises $40 Million

Blockchain announced the completion of $40 million in Series B financing. Seven investors participated in the round, including Lakestar, GV, Digital Currency Group, Lightspeed Venture Partners, Mosaic Ventures, and Prudence Holdings.

Blockchain is a web-based Bitcoin platform that makes using Bitcoin safe, easy, and secure for consumers and businesses. Founded in 2011 in London, U.K., Blockchain currently provides the world’s most popular Bitcoin wallet, the most widely used Bitcoin APIs, the most popular block explorer and search engine, and what has been widely recognized as the strongest, most trusted brand in Bitcoin. In October, 2014, the company announced a $30 million Series A financing, co-led by Lightspeed Venture Partners and Wicklow Capital.

Blockchain revealed that the new funding will be used for research and development, as well as global expansion efforts. The company is developing new products to allow anyone to transact, save, and hedge digital assets with greater speed, efficiency, and control.