Crypto lending startup BlockFi announced today that it has secured a $30 million Series B funding round.
BlockFi raised a $18.3 million Series A funding round in August last year.
With the new round of funding they will aim to widen their international reach and product line.
The Series B was headed up by Peter Thiel’s Valar Ventures with alongside Morgan Creek Digital, PJC, Akuna Capital, CMT Digital, Winklevoss Capital and Avon Ventures. New investors included Castle Island Ventures, Purple Arch Ventures, Kenetic Capital, Arrington XRP Capital and HashKey Capital.
In the first quarter of 2020, the lending startup hopes to develop a mobile app with the opportunity to send fiat wire transfers.
There are plans to offer ‘Automated Clearing House’ (ACH) payments in Q2 of this year and expect to double the size of its 75-person team by the end of 2020.
BlockFi provide fiat loans with bitcoin (BTC) and ether (ETH) and offer clients interest on their crypto.