BlockFills has raised $37 Million to Support its Global Expansion
Bengaluru, January 20th, 2022: BlockFills, a virtual asset electronic market making, trading, as well as prime brokerage firm, has raised $37 million in Series A funding round. The founding round was headed by institutional investors Susquehanna Private Equity Investments LLLP, CME Ventures, Simplex Ventures, C6 Ventures, as well as Nexo Inc. In two funding rounds ever since its launch in 2018, the company has secured a sum of $44 million through institutional investors.
Blockfills seems to be a disruptive technology company focused on providing bespoke end-to-end services to cryptocurrency market players across the world. They offer an end-to-end software suite which streamlines all parts of the trading lifecycle for organizations as well as solves fragmented liquidity challenges with the aggregation as well as matching algorithms.
Blockfills partnered with Tassat, a New York-based fintech business, in November 2019 to launch an institutional Trade at Settlement service for spot Bitcoin (XBT/USD).
The company started as a bootstrapped business as well as secured its first external capital in May of last year. The majority of investors from the previous round re-invested this time, indicating that they were still interested in the company.
Since January 2020, it saw a 400 percent increase in annual top-line revenue, with spot trading volumes increasing by even more than 20 times on a monthly average basis. Over 600 institutional customers are now part of the company.
The fundraising round, according to the statement, would aid Blockfills’ global expansion as well as assist technological launches aimed at luring global Fortune 500-sized corporations, hedge fund/asset managers, banks, as well as other institutions into the virtual assets industry, and all miner development.
“BlockFills as well as our technology platforms would continue to address the demand for end-to-end solutions that let organizations securely as well as efficiently participate in virtual asset markets,” said Nick Hammer, co-founder as well as CEO of BlockFills.
Blockfills is currently focusing on international expansion as well as technology advancements. The fresh funds will be utilised to achieve the company’s goals of growing new verticals as well as increasing its market position, according to the statement.