Thanks to a $150 million fundraising round this week, the company behind the Web3 Phantom wallet is now valued at $3 billion. What will this liquidity allow?
Phantom is now valued at $3 billion
This week, the Phantom wallet teams have formalized what is currently the largest fundraising of the yearnamely 150 million dollars.
Following this Series C round led jointly by Sequoia Capital and Paradigm, the company launched in 2021 is now valued at $3 billion. In addition, a16z as well as Variant also took part in this fundraising.
Brandon Millman, CEO and co-founder of Phantom, explains that this liquidity will help accelerate the company's investments:
Our mission has always been to make crypto more accessible, intuitive and secure for everyone. This latest round of financing allows us to further invest in innovation and ultimately modernize the consumer finance sector.
💡 What is our opinion on the Phantom Web3 wallet?
Since its launch, Phantom has greatly gained popularityin particular thanks to being compatible with several blockchains, including Ethereum (ETH), Bitcoin (BTC) and Solana (SOL) in the first place. Today, the wallet boasts 15 million monthly active users while allowing the safekeeping of $25 billion in assets.
With $20 billion in swap volumes per year, Phantom also says it achieved more than twice the combined trading volumes and revenues of MetaMask and Coinbase Wallet last November and December.
Thanks to this fundraising, the company thus displays the ambition of creating a “next generation consumer financing platform“. Thus, it will be appropriate to see the developments that will be offered in the future on this application.
👉 Also in the news — Donald Trump officially launches his memecoin
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Source: Phantom
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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