Phantom Wallet Worth $3 Billion
Phantom, a digital asset wallet, is valued at $3 billion after raising $150 million in a Series C funding round led by venture capital firms Sequoia Capital and Paradigm
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Phantom wallet, a digital asset wallet, is valued at $3 billion after raising $150 million in a Series C funding round led by venture capital firms Sequoia Capital and Paradigm. The $3 billion valuation represents a 150 percent increase over the $1.02 billion it received from its January 2022 Series B funding round of $109 million.
Additionally, Variant and Andreessen Horowitz were involved in the funding round. Making cryptocurrency more user-friendly, accessible, and secure for all has always been our goal.
‘We can invest more in innovation and eventually modernize consumer finance thanks to this most recent round of funding,” stated Brandon Millman, CEO of Phantom, in the Jan. announcement of 16.
The cryptocurrency wallet service provider said it would use the $150 million to make peer-to-peer payments easier for its users and introduce its soon-to-be social discovery feature.
Phantom has 15 million monthly active users and manages over $20 billion in swap volume annually. The cryptocurrency wallet service provider asserted that its trading volumes and revenue for the last two months of 2024, when Republican Donald Trump won the US election, were “many times higher” than those of rivals MetaMask and Coinbase Wallet.
Phantom momentarily rose to the second-most popular app in November in the utilities section of the Apple App Store. Millman, Chris Kalani, and Francesco Agost, the chief technology officer, founded Phantom in San Francisco, California, in 2021. Additionally, Phantom offers non-custodial services to users who want to protect their non-fungible tokens.
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