Blockfills Secures $37 Million from Institutional Investors

Blockfills, a digital asset trading company, announced on Wednesday that it has closed its Series A funding round, securing a total of $37 million. With this, the company raised a total of $44 million since its inception in 2018.

The latest funding round was led by multiple institutional investors, including Susquehanna Private Equity Investments LLLP, CME Ventures, Simplex Ventures, C6E and Nexo. Several other investors and funds also participated in the round.

“The successful close of our Series A funding round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term will help ensure that BlockFills and our technology platforms are industry-leading and continue to meet the demand for end-to-end solutions that help institutions safely and efficiently engage digital asset markets,” said Nick Hammer, the Co-Founder and CEO of Blockfills.

Started as a bootstrapped company, Blockfills raised its first external funds last year in May. Most of the investors of that round again raised their stake in the company in the latest funding round.

Over the years, it has recorded a growth of 400 percent yearly surge in top-line revenue with a spot trading volumes surge of over 20x on an average monthly basis since January 2020. Now, the company has more than 600 institutional clients.

Scaling Services

Currently, Blockfills is focused on global expansion and technology launches. In addition, it detailed that the fresh proceeds will be used to fulfil its plans to scale new verticals and accelerate its position in the market.

It wants to add support for digital banks and asset managers as well as for trading organizations demanding multi-currency solutions. Moreover, it seeks to add hedging and risk mitigation strategies for companies with exposure to cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

Furthermore, the company is planning to use the funds to scale its services for cryptocurrency miners.

“We are grateful to our investors and proud to provide value for our clients by providing digital asset market solutions that are unmatched in the industry. The future looks bright for BlockFills, and we are just getting started.” Hammer added.