Fireblocks, an Israeli-born company helping enterprises adopt and manage digital assets, has raised $30 million in a Series B round. Paradigm led the round and was joined by existing investors Cyberstarts, Tenaya Capital, Swisscom, Galaxy Digital, Digital Currency Group and Cedar Hill Capital.
Essentially, Fireblocks helps enterprises and other institutions expand their businesses by moving into digital assets and cryptocurrencies. The company has seen a 533 percent increase in customer growth in Q3 of this year, says CEO Michael Shaulov.
Since launching in June 2019, Fireblocks has facilitated the transfer of over $150 billion in digital assets for customers such as Revolut, Celsius, BlockFi, PrimeTrust, Genesis and Nexo. Founded in Tel Aviv and headquartered in New York City, the startup has expanded all around the globe, opening offices in Germany, the UK, Singapore and Hong Kong.
The new capital, which brings the total raised above $46 million, will go to growing the team and expanding into other fintech products. Within the next year, the company will explore innovations in digital payments, banking, transactions and the security of the digital asset ecosystem.
Joining the board of directors is Fred Ehrsam, co-founder of Paradigm and also of Coinbase, a digital currency exchange based in San Francisco.