Phantom Wallet has secured $150 million in Series C funding round at a $3 billion valuation. Sequoia and Paradigm led the funding round, with participation from Andreessen Horowitz and Variant.
Phantom Cryptocurrency Wallet has raised $150 million in a Series C funding round led by venture capital firms Sequoia and Paradigm. The company is valued at $3 billion, with other companies including a16z and Valiant also participating in the funding.
According to an official announcement from Phantom on X, the funds will help further expand the cryptocurrency wallet’s services. The team plans to use the $150 million in funding to launch innovative social features, improve token and app discovery, and simplify peer-to-peer payments.
Phantom makes even bigger bet to accelerate crypto adoption
With over 15 million monthly active users, Phantom is driving cryptocurrency and blockchain adoption with its self-custody service. The team even highlighted that active traders, trading revenue, and trading volume reached the level of top Web3 wallets such as MetaMask and Coinbase Wallet in November and December 2024.
In 2024, Phantom announced two acquisitions, Bitski and Blowfish, which resulted in its wallet infrastructure and robust security capabilities. The cryptocurrency wallet plans to increase strategic partnerships and acquisitions to make the platform suitable for different types of cryptocurrency users as part of a larger plan to accelerate cryptocurrency adoption. I am.
Phantom CEO Brandon Millman said:
“Our mission has always been to make cryptocurrencies more accessible, intuitive and secure for everyone. This latest round of funding allows us to further invest in innovation and We can modernize consumer finance.”
At a current valuation of $3 billion, Phantom’s value has increased by 150% from the $1.2 billion valuation in its previous funding round. In November 2024, it briefly held the position of the most used iPhone application. The latest funding secured by Phantom is its largest funding to date in 2025.
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