San Francisco-based digital asset wallet provider Phantom has announced a significant milestone, raising $150 million in a Series C funding round led by Sequoia Capital and Paradigm. Other prominent participants included Andreessen Horowitz and Variant. The investment has catapulted Phantom’s valuation to an impressive $3 billion—a 150% increase from its $1.2 billion valuation in January 2022. Modernizing Crypto Finance CEO Brandon Millman expressed enthusiasm for the funding’s potential impact. “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,” Millman stated in the Jan. 16 announcement. The newly raised capital will fuel Phantom’s initiatives, including the rollout of a social discovery feature designed to enhance user interaction and simplify peer-to-peer payments. While rumors of a potential token launch circulated, Phantom promptly addressed the speculation in a January 3 X post . “We’ve seen some speculation about an airdrop tied to this feature, so to clarify: we do not have any plans to launch a token,” the company stated. Phantom Grows Since its founding in 2021 by Millman, Chris Kalani, and Francesco Agost, Phantom has garnered 15 million monthly active users and facilitated over $20 billion in annual swap volume. Its rapid ascent is underscored by its competitive edge in revenue and trading volumes. During the final two months of 2024, Phantom claimed to have outperformed both Coinbase Wallet and MetaMask, fueled in part by heightened crypto activity following Donald Trump’s presidential victory. Phantom also briefly ranked as the second-most popular application in the Apple App Store’s utilities section in November 2024 when the global crypto market cap surged toward $4 trillion. Further solidifying its position, Phantom announced on December 6 that it would integrate Sui, a layer-1 blockchain, alongside existing support for Bitcoin, Ethereum, and Solana. This integration expands Phantom’s utility for users exploring diverse blockchain ecosystems. Phantom’s trajectory showcases its commitment to innovation and user-centric solutions, positioning the wallet as a formidable player in the crypto space as it continues to redefine digital finance. The post Phantom Wallet Secures $150M in Series C Funding, Achieves $3B Valuation appeared first on TheCoinrise.com .
