Since we launched in 2021, our mission was to make crypto safe and easy to use. Thanks to your incredible support, we’ve emerged as the world’s leading crypto wallet, soaring to the top of the App Store charts and welcoming millions into the world of crypto.
Now, it's time to aim higher. It's time to take on traditional finance and become the world’s biggest consumer finance platform.
To execute on this new, ambitious vision, we're thrilled to announce our $150 million Series C funding round co-led by Sequoia Capital and Paradigm at a $3 billion valuation, with participation from existing investors including a16z crypto and Variant. With these new resources, we plan on making bigger bets to accelerate crypto adoption and become the world’s biggest and most-trusted consumer finance platform.
Home to the largest onchain userbase
Phantom has become the most dominant crypto wallet in the world, thanks in large part to Solana. With fast, low-cost transactions, and a smooth user experience, we've now become the face of crypto for a whole new generation of users, unencumbered by the the limits of centralized exchanges.
Unlike centralized exchanges, we offer self-custody and access to millions of assets across multiple blockchains. As a result, our community has grown to become the biggest and most-valuable onchain userbase in the world.
- 15 million monthly active users (MAUs)
- $20 billion in annual swap volume
- 12 average app opens per day
- 850 million onchain transactions
- $25 billion in self-custody assets
In November and December, our active traders, trading revenue, and trading volume were multiples higher than MetaMask and Coinbase Wallet—combined.
"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.”
Brandon Millman
Making even bigger bets to accelerate crypto adoption
This raise will allow us to make bigger bets in order to accelerate crypto adoption and build the next-generation consumer finance platform.
In 2024, we made our first and second acquisitions, Bitski and Blowfish, to make crypto safer and easier to use. These acquisitions have played a pivotal role in helping us build essential wallet infrastructure and robust security features. We're going to double down on strategic partnerships and acquisitions to build the necessary infrastructure for crypto to go mainstream.
We plan to make additional strategic investments into innovative social discovery features around our 3.8 million usernames as well as simplifying peer-to-peer payments.
Final note
Thank you for joining us on this journey—from building the leading wallet on Solana to becoming the go-to app for crypto. Your support has made it all possible. While there’s still much to accomplish, we’re excited to continue building Phantom into the world's largest and most trusted consumer finance platform.
