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Phantom Wallet raised $150 million in a Series C funding round led by Sequoia Capital and Paradigm, increasing its valuation to $3 billion. Andreessen Horowitz and Variant also participated in the investment round.
In his statement on January 16, Phantom CEO Brandon Millman said:
“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.”
Investment Focus Areas
Phantom plans to focus on these innovations with this investment:
- Social Discovery Feature: This feature, which will enable users to have a more interactive experience, will be launched soon.
- Peer-to-Peer Payments: Solutions are being developed to simplify P2P payments.
App Store Prominence
Phantom Wallet briefly became the second most popular app in the Apple App Store’s “Utility Apps” category on November 20. This success coincided with the period when the total crypto market value approached $4 trillion.
New Blockchain Integration
Phantom announced on December 6 that it began supporting Sui, a Layer-1 blockchain. This brought the number of blockchains supported by Phantom to four, along with Bitcoin, Ethereum, and Solana.
Phantom’s Founders and Vision
Founded in San Francisco in 2021, Phantom was brought to life by Brandon Millman (CEO), Chris Kalani (Product Director), and Francesco Agost (Technology Director). The company also provides custody services that allow users to secure their non-fungible tokens (NFTs).
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