Phantom Crypto Wallet Secures $150 Million in Series C Funding at $3 Billion Valuation

Phantom, the digital asset wallet service supplier, has raised $150 million in a Collection C funding spherical, taking its valuation to $3 billion. The spherical was led by distinguished enterprise capital companies Sequoia Capital and Paradigm, with extra participation from Andreessen Horowitz and Variant.

The funding will pace up Phantom’s mission of changing into the world’s main shopper finance platform. Based on the Chief Govt Officer, Brandon Millman, 

“Our mission has all the time been to make crypto extra accessible, intuitive, and secure for everybody. This newest spherical of funding permits us to speculate additional in innovation and finally modernize shopper finance.”

A Milestone in Development and Innovation:

Supply: Phantom

Phantom will use the newly acquired capital to launch its upcoming social discovery function and simplify peer-to-peer funds, enhancing the person expertise. The $3 billion valuation is a 150% enhance from its $1.2 billion valuation throughout its Collection B funding spherical in January 2022, which raised $109 million.

At present, Phantom has greater than 15 million month-to-month energetic customers and handles over $20 billion in annual swap quantity. The corporate mentioned that its income and buying and selling volumes for the final two months of 2024—when Donald Trump received the U.S. presidential election and market exercise was at a peak—had been multiples increased than these of rivals Coinbase Wallet and MetaMask.

On November 20, 2024, Phantom temporarily became the second most downloaded application in the utilities section of Apple’s App Store, just when the crypto market cap was close to $4 trillion.

In December 2024, Phantom announced support for the layer-1 blockchain Sui in addition to Bitcoin, Ethereum, and Solana networks. This aligns with Phantom’s strategy of making the platform more inclusive to crypto enthusiasts.

Founded in 2021 in San Francisco, California, by Brandon Millman, Chris Kalani (Chief Product Officer), and Francesco Agost (Chief Technology Officer), Phantom has quickly risen as a key player in the crypto wallet industry. Phantom’s wallet services make it one of the most widely used crypto wallet companies. Among its core products, Phantom now offers non-custodial options for NFTs.

Addressing Token Launch Rumors:

On January 3, 2025, Phantom responded to the rumors surrounding a potential token launch linked to its future social discovery feature. In a statement on X (formerly Twitter), the company clarified, 

“We’ve seen some speculation about an airdrop tied to this feature, so to clarify we do not have any plans to launch a token.”

Future Development:

With a user-centric approach and strong backing from industry-leading investors, Phantom is well-positioned to redefine the digital wallet space. Its focus on accessibility, innovation, and security continues to set new benchmarks for consumer finance in the crypto era.

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