Phantom Wallet Secures $150 Million in Funding to Advance Consumer Finance Platform

Phantom, a leading crypto wallet launched in 2021, has raised $150 million in its Series C funding round, co-led by prominent investors Sequoia Capital and Paradigm. Existing backers, including a16z crypto and Variant, also participated in the funding round.

This significant investment has brought the wallet’s valuation to $3 billion, paving the way for Phantom to accelerate crypto adoption and work towards becoming the world’s largest consumer finance platform. Since its debut, Phantom has experienced rapid growth, attracting 15 million monthly active users, $25 billion in self-custody assets, and $20 billion in annual swap volume.

Our mission has always been to make crypto more accessible, intuitive, and safe for everyone. This latest round of funding allows us to invest further in innovation and ultimately, modernize consumer finance.

Advancing Crypto Adoption and Innovation

With the new funding, Phantom plans to push crypto adoption even further by focusing on strategic partnerships, acquisitions, and building the next-generation consumer finance platform. The team also aims to make additional strategic investments in social discovery features and simplify peer-to-peer payments.

Some key areas of focus for Phantom include:

  • Enhancing user experience through innovative features and technologies
  • Expanding support for various blockchain networks, including Ethereum and Base
  • Investing in social discovery features to enhance user engagement
  • Simplifying peer-to-peer payments for a seamless user experience

Expanding Unified Crypto Storage and Trading

Phantom’s recent addition of support for the Sui protocol aims to expand unified crypto storage and trading across web3. Initially focused on Solana, the wallet has since broadened its support to include multiple networks, further solidifying its position as a leading crypto wallet.

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