During Akuna Capital-led funding round BlockFi cryptocurrency company raised $4 million from other investors — Galaxy Digital Ventures, Morgan Creek Digital, Susquehanna Government Product and a division of Fidelity Investments, a firm Devonshire Investors.
BlockFi is excited to announce that we have raised an additional $4 million in convertible debt investments. https://t.co/GgD8ZnxZ3U pic.twitter.com/zhAoWtZkNA
— BlockFi (@TheRealBlockFi) 12 December 2018.
The company raised investment in exchange for convertible bonds. BlockFi, which operates in the lending market, intends to use the funds for team expansion as part of the launch of new services.
In particular, the firm plans to open for the customers of crypto-currency savings account with the ability to receive interest income and to issue provide the digital assets your credit card. The first product BlockFi promises to launch in the first months of 2019.
“We believe that debt and credit markets in the cryptocurrency space will continue to grow, and BlockFi there is every opportunity to preserve its leading position with the growth of the industry”, — said the head of investment in digital assets to Susquehanna Dean Carlson.
At the moment, the firm offers corporate and private clients loans, taking as collateral their cryptocurrency savings. In July BlockFi raised $52,5 million from kleptomanka Mike Novogratz.
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