Israeli cryptocurrency security company, Fireblocks completes USD 550 million financing, valued at USD 8 billion
Israeli cryptocurrency security company, Fireblocks has completed a USD 550 million financing round, at a company valuation of USD 8 billion.
The company’s valuation has nearly quadrupled since it raised USD 310 million at a company valuation of USD 2.2 billion in June 2021, while in March 2021 it was only valued at USD 700 million.
The round was co-led by D1 Capital Partners – represented by Herzog Fox & Neeman– and Spark Capital with participation from General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s independent growth fund), Altimeter, Iconiq Strategic Partners, Canapi Ventures, and Parafi Growth Fund as well as existing investors such as Sequoia Capital, Coatue, Ribbit, Bank of New York Mellon, Paradigm, DRW Venture Capital, Tenaya Capital and SCB10x.
The Herzog regulatory team on this matter included partner Ariel Yosefi, Head of Technology & eCommerce Regulation, partner Dan Shalev, and associates Dima Zalyalyeyev and Moran Bergman.
The disruption of cryptocurrencies in the financial sector reached the point of no-return and over the next decade every business will become a web 3 business. According to a recent Gartner report, one-fifth of major organizations will utilize digital currencies by 2024, indicating that the adoption of crypto by large corporations will accelerate in 2022 and beyond. In the last year alone, consumers and companies alike have become increasingly interested in innovative payment alternatives, such as Airbnb, Microsoft and AT&T. In fact, Visa’s new survey revealed that 25% of small businesses in nine countries plan to accept crypto payments in 2022.
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