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Blockfolio, a blockchain-based portfolio tracking app raises $11.5 million



Blockfolio, a blockchain-based portfolio tracking app raises $11.5 million

Blockfolio, a blockchain-based portfolio management, and tracking app have secured itself a funding of whopping $11.5 million through Pantera Capital. The app created back in 2014 by employees from DASH is popular amongst cryptocurrency enthusiasts. DASH is the renowned cryptocurrency based on a changed code of Bitcoin. Furthermore, in the span of 4 years, the app has already gained a massive user base of over 4.5 million.

Users who want to get the latest updates on cryptocurrencies use this app to get the latest information about the digital asset of their preference. The app features over update information about over 6000+ cryptocurrencies and digital assets. Furthermore, the app has collaborated with over 240 online exchanges and trading platforms, to provide real-time data on holdings.

About the Fundraising Round

Blockfolio made the announcement of them securing an $11.5 million funding. The fundraising round was started by the Pantera Capital. Pantera Capital is one of the most prominent hedge funds. Furthermore, it has focused on cryptocurrencies since quite an early stage.

Some of the other interested Venture Capitals and Investors in the Fundraising round were: cryptocurrency trading platforms Bitmex and Huobi. Accompanying them were venture capital firms DCM Ventures, Danhua Capital, Abstract Ventures, Mayfield and Pathfinder.

Ed Moncada, Chief Executive Officer, and Co-founder at Blockfolio stated: “If we were just a price-tracking application, we wouldn’t be able to raise that kind of money.”

Blockfolio wants to expand from its current role of data provider gathered from the market and delivered to the user. Furthermore, they want to assume the role of a mediator between the market firms and the user. Moreover, they would like the user to provide their views on the digital asset. This would let the app provides a constructive feedback to the creators of a digital asset.

With the announcement, Blockfolio also released the re-designed version of their new mobile app.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.