Crypto Lender BlockFi Raises $30M Series B

BlockFi provides US-dollar loans to consumers backed by bitcoin or ether; yesterday, they closed on a $30 million Series B led by Peter Thiel’s Valar Ventures along with participation from several existing and new investors; this comes just a few months after they closed an $18.3 million Series A; BlockFi CEO Zac Prince said, “We decided to opportunistically raise the Series B to expand the balance sheet and give ourselves the ability to invest in the things we’re doing this year”; on tap for this year is opening an office in Singapore and a doubling in size of its 75-person workforce by year end; BlockFi reported having more than $650 million in assets on its platform, a 160% increase from the $250 million it reported in August, with a 0% loan loss rate. Coindesk