Phantom – a simple multichain wallet that announced to make crypto safer and easier to use – announced it raised $150 million in Series C funding at a $3 billion valuation. This funding round was co-led by Sequoia Capital and Paradigm, with participation from existing investors, including a16z crypto and Variant.
With this funding round, the company plans on making bigger bets to accelerate crypto adoption and become the world’s biggest and most trusted consumer finance platform.
Due mainly to Solana, Phantom has become the most dominant crypto wallet. With fast, low-cost transactions and a smooth user experience, the company has become the face of crypto for a whole new generation of users, unencumbered by the limits of centralized exchanges. Unlike centralized exchanges, Phantom offers self-custody and access to millions of assets across multiple blockchains. So Phantom’s community has grown to become the biggest and most valuable onchain userbase in the world.
— 15 million monthly active users (MAUs)
— $20 billion in annual swap volume
— 12 average app opens per day
— 850 million onchain transactions
— $25 billion in self-custody assets
In November and December, the company’s active traders, trading revenue, and trading volume were multiples higher than MetaMask and Coinbase Wallet—combined.
KEY QUOTE:
“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.”
– Brandon Millman, CEO and co-founder of Phantom
