(Reuters) – Cryptocurrency startup BlockFi is in late-stage talks with new and existing investors to raise funding at a valuation of about $5 billion, the Information reported on Tuesday.
New York–based hedge fund Third Point Management, run by activist investor Daniel Loeb, and London-based venture firm Hedosophia are leading the financing, the report https://www.theinformation.com/articles/crypto-lender-blockfi-in-talks-to-raise-funding-at-5-billion-valuation said, citing people familiar with the matter.
The latest financing is not yet closed and the valuation could grow, the Information reported.
BlockFi did not immediately respond to a Reuters’ request for comment.
The company, founded in 2017, provides traditional financial services to cryptocurrency holders. Its platform manages more than $15 billion in assets.
(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)
