Bitchain wallet company Blockchain announced Thursday that it has raised $ 40 million ($ 270 million), venture capital firm Lakestar, Google Ventures and billionaire Richard Branson.
This investment coincided with the growing interest in encrypted currencies, especially bitcoin, whose prices have recently hit a record high since the beginning of the year.
Blockchain has developed a special currency wallet, which is actually a software that can store this digital currency and handle transactions between users.
According to Blockchain CEO Pitt Smith, $ 40 million in financing will be used to further expand the team and invest in R & D. In addition, the start-up company also hopes to open a new office in different countries to expand.
Smith said the recent rise in Bitcoin prices has caused demand for Blockchain wallet products to rise, and this round of financing will help the company meet these needs.
“We focus on expanding the scale to meet the market’s record needs,” Smith said to CNBC.
He said Blockchain has nearly 15 million registered users, “the monthly wallet activities worth billions of dollars”, including deposits and trading activities.
Smith also said the company’s total revenue this year is expected to grow by more than 1000%, but he did not disclose the specific figures.
Blockchain was founded in 2011 and now has 140 users worldwide. Its last round of financing in 2014, the scale of 30.5 million US dollars. Other investors in the latest round of financing include Nokota Management and Digital Money Group.