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 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 .
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.
