Multichain Web3 ecosystem and blockchain wallet — Blocto has recently announced the completion of its Series A funding round, where it raised $80 million and skyrocketed the company’s valuation by 700%. Blocto was launched in 2019 by its parent company, Portto, to simplify blockchain technology for everyday users and promote crypto adoption.
The successful funding round was participated by various notable investors, including Mark Cuban, IPX, and 500 Global, as well as previous Blocto investors, such as Roham Garegozlou of Dapper Labs, Kevin Chou of Gen. G Esport, and blockchain gaming giant, Animoca Brands. The investment will help Blocto to develop its infrastructure and onboard millions of new users to crypto.
Commenting on the funding round, Portto’s co-founder and CEO, Hsuan Lee, expressed his excitement saying that Blocto’s mission is to democratize access to the opportunities that blockchain technology presents by creating simple-yet-powerful products that provide great user experience across multiple blockchain ecosystems.
Before the funding rounds, Blocto had already attracted over 1.6 million users worldwide and had defied market lulls to remain profitable and explosive. The associated BloctoBay has also grown to become the most popular non-custodial NFT marketplace on the Flow blockchain.
Blocto supports various blockchain networks, including Ethereum, Solana, Flow, Polygon, Tron Network, Aptos, and BNB Chain, among others. The company’s commitment to user-friendly entry points to the world of blockchain technology eliminates the friction points experienced by new entrants in the worlds of DeFi, NFTs, Web3, GameFi, and more.
With the successful funding round, Blocto is better equipped to onboard the next billion users to crypto and to achieve its vision of being one of the most influential blockchain companies in the industry.
The continuous growth of Blocto users in the current environment is indicative of Portto’s commitment to breaking new grounds in the Web3 ecosystem and driving crypto adoption.
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