The cryptocurrency loaning start-up BlockFi has secured $18.3 million through Series A funding as declared by the company on Tuesday. The company is looking forward to international expansion and to launch a new financial product.
The Series A funding of the two-year-old company was led by Valar Ventures and was supported by previous investors like Morgan Creek, Galaxy Digital, Fidelity, ConsenSys, CMT Digital, Susquehanna, Akuna Capital, PJC, Avon Ventures, and Winklevoss Capital.
Zac Prince, the CEO of BlockFi, has told it the first foray of Valar Investment into the cryptocurrency industry. The VC firm is known for its investment in financial technology companies.
BlockFi, loan out cash to the customer who has Bitcoin or Ethereum as collateral holding. The minimum deposit for that…