Phantom, a prominent cryptocurrency wallet provider, has successfully raised $150 million in a Series C funding round, propelling its valuation to $3 billion. The round was led by renowned venture capital firms Sequoia Capital and Paradigm, with participation from prominent investors such as Andreessen Horowitz and Variant.
CEO Brandon Millman emphasized Phantom's commitment to making cryptocurrency accessible and secure for all users. He stated that the newly acquired funds will be strategically utilized to introduce innovative features, including enhanced social discovery capabilities and a more streamlined peer-to-peer payment experience.
Phantom has witnessed remarkable growth, boasting an impressive user base of 15 million active users and facilitating over $20 billion in annual swaps. The company's revenue surged significantly towards the end of 2024, surpassing its competitors, Coinbase Wallet and MetaMask, in terms of revenue growth.
This substantial funding round is poised to fuel Phantom's mission to revolutionize consumer finance by providing a user-friendly and secure platform for interacting with the crypto ecosystem.
January 2025, Cryptoniteuae