The Israeli startup ecosystem capital funding party just won’t rest. Israeli crypto Unicorn, Fireblocks, has secured $310 million in Series D funding at a $2.2 billion valuation -- only 4 months after dropping jaws with a massive Series C round.
$473M still in the bank
Fireblocks architecture is based on a secure transfer environment, which enables free flow of digital assets between financial institutions and the market. The secure transfer environment uses the company’s Hot Vault system to enable users to transfer assets from various storage solutions over the Blockchain network. For financial organizations trading in digital assets, the company’s platform provides a unique security system, which neutralizes both external and internal attacks on digital assets, whether in storage or during transactions.
In addition, Fireblocks adds that by using the platform, banks and fintechs can rapidly deploy custody, tokenization, asset management, trading, lending and payment solutions across public and private blockchain networks. The system provides infrastructure for financial organizations that work with digital assets, including secure wallets (hot and cold), a secure network that prevents MITM attacks, a system for issuing digital assets and backend infrastructure that enables implementation and response to various regulations and laws.
By completing the Series D round, Fireblocks has now raised $473 million in under a year -- a number that until recently was unimaginable in such a short time. In a chat with Geektime, Michael Shaulov, CEO and co-founder, explains that the raised capital has yet to be touched: “The truth is that we haven’t started using the money yet.”
“We’re thrilled to be able to expand our company and infrastructure through this new injection of funds. The growth we’ve seen to date is a reflection of all parties involved, at every stage,” said Michael Shaulov, CEO of Fireblocks. “As it stands, our technology has stood out in the space since the company was founded and its success rate has been evident. Looking ahead into the growth of the industry, there is massive potential for us to continue stepping in and being a trusted partner to financial institutions and other organizations looking to enter the space safely and seamlessly.”
Fireblocks was founded in 2018 by Michael Shaulov, Idan Ofrat, and Pavel Berengoltz. The Series D round was co-led by Sequoia Capital, Stripes, Spark Capital, Coatue, DRW VC and SCB 10X, the venture arm of Thailand’s oldest bank, Siam Commercial Bank, whose investment marks the third global bank to invest in Fireblocks alongside BNY Mellon and SVB Capital.
