Crypto pockets supplier Phantom has raised $150 million in a Sequence C funding spherical led by Sequoia Capital and Paradigm, with participation from Andreessen Horowitz and Variant, pushing its valuation to $3 billion.
The corporate plans to make use of the funds to introduce new options like social discovery instruments and simplified peer-to-peer funds.
Since its founding in 2021, Phantom has grown quickly, boasting 15 million lively customers and dealing with over $20 billion in annual swap quantity. Its valuation has soared from $1.2 billion in early 2022 to $3 billion, reflecting its increasing position within the crypto ecosystem.
Phantom’s efficiency surged throughout late 2024, outpacing rivals like Coinbase Pockets and MetaMask in income and buying and selling volumes following elevated market exercise tied to the U.S. presidential election. In November, it briefly ranked because the second-most fashionable utility app on the Apple App Retailer.
Just lately, Phantom expanded its blockchain assist by integrating Sui, alongside Bitcoin, Ethereum, and Solana. The corporate, which additionally provides non-custodial NFT companies, dismissed rumors of a possible token launch, clarifying no such plans exist regardless of ongoing hypothesis.
With a concentrate on innovation and accessibility, Phantom is positioning itself as a frontrunner within the evolving digital pockets area.
