BlockFi in talks to raise funding at about $5 billion valuation - The Information

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(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.

BlockFi declined to comment.

In March, the New Jersey-based company completed a $350 million series D funding round that gave it a valuation of $3 billion. The round was led by Bain Capital Ventures, partners of DST Global, Pomp Investments and Tiger Global.

The company, founded in 2017, provides traditional financial services to cryptocurrency holders. Its platform manages more than $15 billion in assets.

The latest financing is not yet closed and the valuation could grow, the Information reported.

(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)