Blockdaemon Nets $207M on $3.25B Valuation for Its Crypto Infrastructure

Blockdaemon, the blockchain infrastructure firm, said it had gotten a post-money valuation of $3.25 billion, a report says.

This comes after it reported a $207 million Series C round led by Sapphire and Tiger Global.

Blockdaemon’s services include support on the back end for several blockchains. Its provides things like node operations and staking-as-a-service.

Unicorn valuations for crypto companies have still been happening – crypto exchange FTX reported a valuation of $8 billion after a funding round of $400 million.

Sapphire’s Jai Das said it was a sign that the “digital asset class is here to stay,” particularly as publicly traded companies and financial services firms begin to get into the mix.

Das said there were still needs for things like a secure infrastructure support for “compliant and scalable participation in Web3/DeFi.”

Blockdaemon is one of the backend platforms, among other companies like Infura and Alchemy, which have undergirded lots of the crypto ecosystem – Infura is an oft-cited essential in the Ethereum venture studio and Alchemy got a $3.5 billion valuation from October.

With its new funding, Blockdaemon plans to go into new areas. The company is starting a DeFi fund to help make structured investments in the ecosystem. It’s also planning to work with StakeWise to offer institution-friendly DeFi services.

In other news, Latin America has seen a wave of funding, with $15.3 billion from venture capitalists going toward FinTech and eCommerce companies, among others. FinTechs were in the lead, with 16 new unicorns including cryptocurrency exchange Bitso and Chilean plant-based food producer NotCo.

Read more: VC Funding, FinTech Unicorns Break Records in LatAm

The FinTech Lavca will integrate with other industries, PropTechs and other such things because of the new financing.

Francisco Alvarez-Demalde, co-founder and managing partner at U.S.-based Riverwood Capital, said the firm was astonished by the recent surge in growth.