{"id":820476,"date":"2025-01-17T05:12:08","date_gmt":"2025-01-17T11:12:08","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/17\/phantom-crypto-wallet-raises-150m-in-series-c-at-3b-valuation\/"},"modified":"2025-01-17T05:12:08","modified_gmt":"2025-01-17T11:12:08","slug":"phantom-crypto-wallet-raises-150m-in-series-c-at-3b-valuation","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/17\/phantom-crypto-wallet-raises-150m-in-series-c-at-3b-valuation\/","title":{"rendered":"Phantom crypto wallet raises $150M in Series C at $3B valuation"},"content":{"rendered":"
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Phantom said the $150 million funding round accelerates Phantom\u2019s mission to become the world\u2019s biggest consumer finance platform. <\/p>\n

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Digital asset wallet Phantom announced has raised $150 million from a Series C funding round led by venture capital firms Sequoia Capital and Paradigm, valuing the firm at $3 billion.<\/p>\n

Andreessen Horowitz and Variant also participated in the funding round.<\/p>\n

\u201cOur 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,\u201d Phantom\u2019s CEO Brandon Millman said<\/a> in the Jan. 16 announcement.<\/p>\n

The crypto wallet service provider said it would use the $150 million to launch its soon-to-be-released social discovery feature<\/a> and simplify peer-to-peer payments for its users.<\/p>\n

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Source: <\/em>Phantom<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

The $3 billion valuation marks a 150% increase from the $1.2 billion valuation<\/a> it obtained from its $109 million Series B funding round in January 2022.<\/p>\n

Phantom currently boasts 15 million monthly active users and handles over $20 billion in annual swap volume.\u00a0<\/p>\n

The crypto wallet service provider claimed its revenue and trading volumes for the final two months of 2024 \u2014 when Republican Donald Trump<\/a> won the US presidential election \u2014 were \u201cmultiples higher\u201d than competitors Coinbase Wallet and MetaMask combined.<\/p>\n

Phantom briefly became the second-most popular application<\/a> in the Apple App Store\u2019s utilities section on Nov. 20 when the crypto market cap was pushing toward $4 trillion.<\/p>\n

Related: <\/strong><\/em>Solana could adopt market-based emission model under new proposal<\/strong><\/em><\/a><\/p>\n

Meanwhile, Phantom announced<\/a> on Dec. 6 that it would integrate layer-1 blockchain Sui<\/a>, making it the fourth blockchain that Phantom supports behind the Bitcoin, Ethereum and Solana networks.<\/p>\n

Phantom was founded in 2021 in San Francisco, California, by Millman, chief product officer Chris Kalani and chief technology officer Francesco Agost.<\/p>\n

Phantom also provides non-custodial services for users looking to secure their non-fungible tokens.<\/p>\n

On Jan. 3, the company refuted rumors of a potential token launch<\/a> to complement its incoming social discovery feature, which will launch sometime in \u201cearly 2025.\u201d<\/p>\n

\u201cWe\u2019ve seen some speculation about an airdrop tied to this feature, so to clarify: we do not have any plans to launch a token,\u201d the non-custodial crypto wallet provider said<\/a> in a Jan. 3 X post.<\/p>\n

Magazine:<\/strong><\/em> Comeback 2025: Is Ethereum poised to catch up with Bitcoin and Solana?<\/strong><\/em><\/a><\/p>\n