- Phantom wallet secured $150 million in a Series C funding round at $3 billion valuation.
- Sequoia and Paradigm led the funding round, in which Andreessen Horowitz and Variant also participated.
Phantom crypto wallet raised $150 million in a Series C funding round led by venture capital firms Sequoia and Paradigm. The firm was valued at $3 billion and other firms such as a16z and Variant have also participated in the funding.
We're thrilled to share we've raised a $150M Series C at a $3B valuation, co-led by @sequoia and @paradigm.
— Phantom (@phantom) January 16, 2025
This milestone accelerates our mission to build the world’s biggest and most-trusted consumer finance platform. pic.twitter.com/REIt4wqeGh
As per the official announcement from Phantom on X, this funding helps the crypto wallet to expand its services further. The team is planning to launch innovative social features, improve token and app discovery, and simplify peer-to-peer payments with the $150 million funding it raised.
Phantom Bets Bigger to Accelerate Crypto Adoption
With more than 15 million monthly active users, Phantom is driving the crypto and blockchain adoption with its self-custody services. The team even emphasized that its active traders, trading revenue, and trading volume reached levels of top Web3 wallets such as MetaMask and Coinbase Wallet in November and December 2024.
In 2024, Phantom announced two acquisitions, Bitski and Blowfish, which resulted in building wallet infrastructure and robust security features. The crypto wallet plans to increase its strategic partnerships and acquisitions to make the platform suitable for different types of crypto users, as part of its bigger plans to accelerate crypto adoption.
Phantom CEO Brandon Millman says,
“Our Mission has always been to make crypto more accessible, intuitive, and safe for everyone. This latest round of funding allows us to invest further in innovation and ultimately, modernize consumer finance.”
With the current $3 billion valuation, Phantom’s value rose 150% from the previous $1.2 billion valuation in its previous funding round. It even secured a place among the most-used iPhone applications at one point in November 2024. The current funding secured by Phantom marks the biggest funding so far in 2025.
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