BlockFi’s $18.3 Million Series A Funding Round

Foley Hoag LLP represented cryptocurrency lending company BlockFi in its $18.3 million Series A funding led by Valar Ventures.

BlockFi plans to use the funds to add new products to its existing platform, which includes interest-earning accounts for Bitcoin and crypto-backed USD loans.

New Jersey-based BlockFi offers financial products that enable cryptocurrency holders to put their crypto to work. The company services customers worldwide, including in 47 U.S. states, with interest-earning accounts and low-cost USD loans backed by crypto. BlockFi is backed by leading institutional investors and operates with a focus on compliance with U.S. laws and regulations.

Foley Hoag attorneys Erica Rice (Picture) and Mark Cloutier represented BlockFi in the transaction.

Involved fees earner: Mark Cloutier – Foley Hoag; Erica Rice – Foley Hoag;

Law Firms: Foley Hoag;

Clients: BlockFi Inc;

Author: Ambrogio Visconti