Latest News

Blockchain engineering firm ConsenSys hits $7bn valuation

By Will McCurdy

Blockchain engineering firm ConsenSys has hit a $7 billion valuation in its latest funding round.

The $450 million Series D funding round comes as the New York-based firm said its flagship product MetaMask hit 30 million users in January, a 42 per cent rise compared to November, when MetaMask reported 21 million users.

Founded in 2015, ConsenSys develop decentralised software services and applications that operate on the Ethereum blockchain.

The round was led by US investment firm ParaFi Capital, who were joined by new investors including Microsoft, Temasek, SoftBank Vision Fund 2, Anthos Capital, Sound Ventures, and C Ventures.

Previous ConsenSys investors also participated in the round, including Third Point, Marshall Wace, TRUE Capital Management, and UTA VC, United Talent Agency’s venture fund.

ConsenSys said the proceeds from the round will be converted to ETH to rebalance the ratio of ETH to USD-equivalents in line with ConsenSys’ treasury strategy.

In addition, ConsenSys said that its infrastructure tool Infura was now used by 430,000 developers.

Sullivan & Cromwell LLP acted as ConsenSys’ legal advisor in this transaction.

The news comes after a year in which the blockchain firm has attracted significant amounts of capital from established players in financial services.

In November, ConsenSy raised $200 million in a funding round backed by HSBC in November, which brought its valuation to $3.2 billion.

Joseph Lubin, chief executive at ConsenSys, said: "I think of ConsenSys as a broad and deep capabilities machine for the decentralized protocols ecosystem, able to rapidly capitalise at scale on fundamental new constructs that emerge, such as developer tooling, wallets, security audits, DeFi, Non-Fungible Tokens (NFTs), Layer-2 scaling, DAOs, and more."

Ben Forman, founder at ParaFi Capital, said: “As a long-time power user of ConsenSys’ products and services, ParaFi is thrilled to be an investor and thought partner as the company continues to operate at the forefront of decentralized infrastructure.”

    Share Story:

Recent Stories

Barclays issued with $361m penalty

Toqio raises €20m in Series A funding round

Penfold launches Advisor Portal aimed at SMEs


Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.

BANNER

BANNER

Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.

Click here to read the 2023 State of the Phish report from Proofpoint.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.

Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.

© 2019 Perspective Publishing     Privacy & Cookies