Blockchain

BlockFills raises $37M to support global expansion

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BlockFills, an electronic market making, trading and prime brokerage firm for digital assets, announced the completion of a $37 million Series A funding round.

Institutional investors including Susquehanna Private Equity Investments LLLP, CME Ventures, Simplex Ventures, C6 Ventures and Nexo Inc. led the round. Since its inception in 2018, the company has raised a total of $44 million from institutional investors in two funding rounds.

According to the announcement, the funding round will help Blockfills’ global expansion and enabling technology debut, aiming to attract global Fortune 500 companies, hedge funds/asset managers, banks and other institutions into the digital asset space as well as miner development.

“The successful closing of our Series A round will help ensure BlockFills and our technology platform are industry-leading and continue to meet the demand for end-to-end solutions that help institutions safely and effectively participate in digital asset markets,” Nick Hammer said , co-founder and CEO of BlockFills.

The company started out as a bootstrapped business and raised its first outside funding last May. Most of the investors in the round retained their interest in the company with this reinvestment. Over the years, its revenue has grown by 400% annually, and since January 2020, spot trading volume has grown by an average of more than 20 times per month. The company now has more than 600 institutional clients.

related: Checkout.com raises $1B in Series D, bringing valuation to $40B

November 2019, Blockfills partners with New York-based company Fintech firm Tassat provides institutional trade settlement services for spot bitcoin (XBT/USD). Currently, Blockfills is focused on international growth and technology development. It went on to say that the new cash will be used to achieve its goals of expanding into new verticals and strengthening its market position.