Phantom Wallet raises $150 million at $3 billion valuation

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The Block2025/01/15 16:00

By:The Block

Quick Take Phantom Wallet has raised $150 million at a $3 billion valuation. Sequoia and Paradigm led the Series C round, with a16z and Variant also participating.

Phantom Wallet raises $150 million at $3 billion valuation image 0

Phantom Wallet has raised $150 million and secured a $3 billion valuation, it said in a statement . Venture capital firms Sequoia Capital and Paradigm led the Series C funding round, which also included a16z and Variant.

Co-founder and CEO Brandon Millman said, "The wallet’s rise in popularity shows that there’s a 'broader trend' in which more people are buying crypto directly with their digital wallets instead of using Coinbase Global Inc.’s exchange and other centralized platforms," according to Bloomberg .

The company said it has 15 million monthly active users and $25 billion in self-custody assets. In November, the crypto wallet app placed ninth among the top free iPhone apps.

"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," the company said, noting that Phantom Wallet "has become the most dominant crypto wallet in the world, thanks in large part to Solana."

Phantom Wallet's funding round appears to so far be the biggest of 2025 in crypto. Sygnum Bank announced this week it had raised $58 million in a strategic growth round.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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