Consensys, an Ethereum-based software company has revealed that it has raised $450m in Series D financing led by Parafi Capital. The latest financing brings the company’s valuation to over $7 billion, following the $200 million Series C raise Consensys secured last November.
Consensys raises $450,000,000, proceeds from the round will be converted to Ether
Consensys, an incubator and software company for Ethereum has announced that it had closed a $450million Series D under the guidance of Parafi Capital. Third Point, Marshall Wace. True Capital Management. Temasek. Softbank Vision Fund 2. Microsoft. Anthos Capital. Sound Ventures. UTA VC. C Ventures. According to the company, $450,000,000 will be immediately converted into Ethereum (ETH).
“All proceeds from the round will be converted to ETH to further build Consensys’ ‘ultra-sound money’ position as a rebalance to its ETH to fiat ratio in line with Consensys’ treasury strategy,” the firm’s announcement on Tuesday disclosed. Consensys states that the company kept ether and stablecoins on its balance sheets for a while. The assets are put to work, Consensys details, via staking and “actively using its own financial infrastructure.”
Metamask captures 30 million monthly active users, Infura commands over 430,000 developers
The Consensys announcement concerning the $450 million funding round comes at the same time the company’s Metamask wallet hit 30 million monthly active users (MAUs). The disclosure highlights that the “United States, the Philippines, Brazil, Germany and Nigeria represent some of Metamask’s most active markets.” Consensys also announced a milestone tied to the blockchain infrastructure product Infura. Consensys says:
[Infura]More than 430,000 developers, more than $1 trillion annually in on-chain ETH transaction volumes and 10x the number of competitors.
Joseph Lubin, the founder and CEO of Consensys said that while this financing round will convert the fiat to ether, the “next round will be our ‘Series ETH’ where we will assist investors in getting fully crypto native and contributing ETH.” Alongside Consensys, the Ethereum network and its native token ETH saw phenomenal growth. ETH’s value has gone up 38.8% in the last year. The chain holds 54.79% of total decentralized finance (defi), which is $109.03 billion at the time this article was written.
“I think of Consensys as a broad and deep capabilities machine for the decentralized protocols ecosystem, able to rapidly capitalize at scale on fundamental new constructs that emerge, such as developer tooling, wallets, security audits, defi, NFTs, layer-2 scaling, DAOs, and more,” Lubin added. “This view has resonated with our crypto native and growth investors in a Series D that will enable us to execute exciting growth strategies.”
Consensys raises $450 Million in Series D financing round. What are your thoughts? Please comment below to let us know your thoughts on this topic.
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