Home News BlockFills raises $37 million to support global expansion

BlockFills raises $37 million to support global expansion

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BlockFills, a digital asset electronic market maker, trader, and prime broker, has raised $37 million in a Series A fundraising round.

The investment was headed by institutional investors such as Susquehanna Private Equity Investments LLLP, CME Ventures, Simplex Ventures, C6 Ventures, and Nexo Inc. Since its establishment in 2018, the company has secured a total of $44 million in two investment rounds from institutional investors.

The fundraising round, according to the statement, would aid Blockfills’ global expansion and assist technological launches aimed at luring global Fortune 500-sized corporations, hedge fund/asset managers, banks, and other institutions into the digital assets industry, as well as miner development.

“BlockFills and our technological platforms will be industry leaders thanks to the successful completion of our Series A fundraising round”. As well as continuing to address the demand for end-to-end solutions that allow institutions to operate in digital asset markets safely and efficiently,” said Nick Hammer, co-founder and CEO of BlockFills.

400% increase in annual top-line revenue

The company began as a self-funded venture and raised its first outside money in May of last year. The majority of the investors from the previous round re-invested this time. Indicating that they were still interested in the company. Since January 2020, it has seen a 400% increase in annual top-line revenue. With spot trading volumes increasing by more than 20 times on an average monthly basis. Over 600 institutions are now clients of the firm.

Blockfills partnered with Tassat, a fintech business based in New York. In order to launch an institutional Trade at Settlement service for spot Bitcoin (XBT/USD) in November 2019. Blockfills is focusing on international expansion and technology advancements at the moment. The fresh funds will be in use to achieve the company’s goals of growing new verticals. As well as bolstering its market position, according to the statement.

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