Blockfolio, a leading cryptocurrency portfolio tracking app, recently announced that they’ve raised $11.5M during their Series A financing round. Blockfolio CEO, Edward Moncada, was quoted as saying:
Most importantly, this investment empowers us to follow our belief that quality data and information should be easily accessible and that Blockfolio should be fully free to use for all.
Created in 2014, Blockfolio has built a clientele of 4.5 million users. Used by cryptocurrency enthusiasts around the world, the app allows investors to track the performance of 6,000 cryptocurrencies across 240 different cryptocurrency exchanges.
Although Blockfolio has competition, they’ve been on the leading forefront of app development for years. Their new “Signal” feature allows cryptocurrency teams to communicate directly with their community using push notifications from the Blockfolio app. Signal is available for 90 cryptocurrencies today, and it’s reported the Signal waitlist has at least 300 projects ready to go.
According to Blockfolio, the investment round was led by cutting-edge hedge fund Pantera Capital, as well as leaders in the cryptocurrency exchange space like BitMEX and Huobi. In addition, the following firms have invested in Blockfolio:
- Danhua VC
- DCM Ventures
- Pathfinder, Founders Fund’s early stage investment vehicle
- Abstract Ventures
- Refactor Capital
- Mayfield Fund
- Chapter One Ventures
- NKB Group
- Global Blockchain Innovative Capital
- Nirvana Capital
Blockfolio is not the first cryptocurrency infrastructure project that Pantera Capital has invested in. They also own shares of Abra, Circle, Earn, Shapeshift, and Xapo. The crypto hedge fund has notably not been having the best of years, as it’s rumored to be down 73% year to date.
Back in August, Pantera Capital managed to rasie $71 million for a cryptocurrency venture fund that was set to invest in the Intercontinental Exchange«s cryptocurrency venture Bakkt.