Foley Hoag Represents BlockFi in $18.3M Series A Funding
August 15, 2019
Foley Hoag LLP represented cryptocurrency lending company BlockFi in its $18.3 million Series A funding led by Valar Ventures. BlockFi plans to use the funds to add new products to its existing platform, which includes interest-earning accounts for Bitcoin and crypto-backed USD loans.
New Jersey-based BlockFi offers financial products that enable cryptocurrency holders to put their crypto to work. The company services customers worldwide, including in 47 U.S. states, with interest-earning accounts and low-cost USD loans backed by crypto. BlockFi is backed by leading institutional investors and operates with a focus on compliance with U.S. laws and regulations.
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