Blocto crypto wallet closes Series A round at an $80 million valuation

Multichain wallet Blocto has closed a Series A funding round at a valuation of $80 million.

The startup would not disclose the funding amount for this round. Entrepreneur Mark Cuban, IPX and returning investor 500 Global participated in the raise,  the company said in a release. Cuban’s involvement with the startup was announced late last year.

Blocto most recently raised funds in the Spring of 2021. It closed a $8 million token round from investors including Animoca Brands, SevenX Ventures, collapsed trading firm Alameda Research and Roham Garegozlou, the CEO of Dapper Labs.

The startup’s valuation has increased eightfold, the company said in the release, without specifying a timeframe for that gain. It was launched back in 2019 by its parent company Portto. The funds from the raise will  be used to support Blocto as it develops the infrastructure to onboard users into crypto.

“We believe the continuous growth of Blocto users in the current environment is indicative of Portto’s commitment to be one of the most influential blockchain companies in the industry,” Tony Wang, a managing partner at 500 Global, said in the release.

Blocto recently rolled out on Aptos and natively supports other chains such as Ethereum, Solana, Polygon, Flow and BNB Chain. The startup also rolled out a $3 million Aptos ecosystem fund late last year.

This story has been updated to clarify that Blocto raised funds from only a token round last year and that information online about an equity raise is incorrect.