World’s largest bitcoin wallet provider Blockchain raises $30m

Blockchain, the world’s largest bitcoin wallet provider, has raised $30.5m in a round led by Lightspeed Venture Partners and Wicklow Capital.

Despite the recent slump in bitcoin prices, the investment is the biggest single funding round a bitcoin firm has ever had.

And yet it’s the first penny of funding the startup has raised, having bootstrapped entirely until this point.

Other investors include Richard Branson, Mosaic Ventures, Prudence Holdings, Future Perfect Ventures and various angel investors.

A chip off the old block

Founded in August 2011, Blockchain has 2.3 millions unique users to date and has processed a total of $26bn in transaction volume.

Bitcoin prices peaked at more than $1,100 late last year, but earlier this month fell below the $300 mark.

It’s the second investment in UK bitcoin in recent months, following a £2m round in London-based Elliptic in July.