Crypto lender BlockFi raises $52M in funding

posted 6 months ago
BlockFi, a startup that offers US dollar loans against crypto collateral, has raised $4 million in its latest round this year, giving them $52.5M in total funding. The New York-based firm announced the funds were raised in a round led by Akuna Capital, with participation from Mike Novogratz’s Galaxy Digital Ventures, Anthony Pompliano’s Morgan Creek Digital, Susquehanna Government Products and Fidelity-linked Devonshire Investors.

With the new funds, BlockFi said it plans to grow its team and launch new products, including an interest-earning crypto savings account (slated for Q1 2019), a portfolio line of credit and crypto-backed credit cards. The firm currently provides dollar-denominated loans against Bitcoin and Litecoin.
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