New York-based startup BlockFi, which provides loans to crypto-asset owners using their bitcoin and ether holdings as collateral, has secured $1.55 million in a just-closed funding round.
Blockfi aims to “bridge the gap” between capital markets and the cryptocurrency ecosystem, according to a press release. In doing so, the company expects to tap into a market of new investors who need to borrow funds.
The company will initially operate in 35 U.S. states, lending to individuals, companies and institutions.
BlockFi, founded by Zac Prince and Flori Marquez, is based in New York. BlockFi is a non-bank lender that offers USD loans to cryptoasset owners, bringing additional liquidity to the blockchain asset sector. BlockFi is changing the trajectory of digital financial markets with a mission to elevate these markets to a level of sophistication that meets the rapidly changing needs of both retail investors and institutions.
Write: Richard Abermann