raises $300 million Series C, now valued at $5.2 billion

Crypto firm has raised $300 million in Series C funding at a post-money valuation of $5.2 billion.

The round was led by DST Global, Lightspeed Venture Partners, and VY Capital, with participation from other existing investors.

The Series C comes just a month after raised $120 million from a group of macro investors in February.

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With the fresh capital at hand, plans to "aggressively expand" its products and services, grow its global team, as well as pursue merger and acquisition opportunities, said CEO Peter Smith.

The firm currently offers crypto wallets, as well as trading and other services for retail and institutional investors.

Smith said is already "highly profitable" across its product lines but believes that new investors will help support its growing business. The firm surpassed all of its 2020 contribution margins in the first two months of 2021, said Smith. claims to have over 31 million verified users in over 200 countries and says it has seen a 3x increase in active users over the past 12 months.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.