After the $200 million Series C raise Consensys secured in November, this latest funding brings the company's value to $7 billion.
Consensys Raised $450 Million. Proceeds from the Round Will be Converted to Ether
Parafi Capital, a venture capital firm, has announced that Consensys closed a $450m Series D financing round. Third Point, Marshall Wace and True Capital Management participated in the financing round. The company claims that $450 million will be converted immediately to ethereum ( ETH).
The firm announced Tuesday that all proceeds from the round would be converted to Ethereum in order to build Consensys 'ultrasound money' position. This will also rebalance Consensys 'ultrasound money' ratio to fiat, which is consistent with Consensys treasury strategy. Consensys also stated that the company had ether in its balance sheet for a while, along with stablecoins or other tokens. Consensys explains that the assets are being put to use via staking and "actively utilizing its own financial infrastructure."
Metamask captures 30 million monthly active users, Infura commands over 430,000 developers
Consensys' announcement about the $450 million funding round coincides with the 30 million active monthly users (MAUs) of its Metamask client. This disclosure highlights that the United States, Brazil, Germany, Nigeria, and the Philippines are some of Metamask’s most active markets. Consensys also announced a milestone related to the blockchain infrastructure product Infura. Consensys claims:
[Infura] boasts more than 430,000 developers, and over $1 trillion annually in on-chain ETH transaction volume. This is 10x the number of its closest competitor.
Joseph Lubin, founder and CEO at Consensys stated that although this round will convert fiat to Ethereum, the next round will be our "Series ETH" where we will help investors get fully crypto-native and contributing . The Ethereum network and its native token experienced phenomenal growth. Ethereum has increased 38.8% over the past year and commands 54.79% (TVL) of decentralized finance's total value (defi), or $109.03 trillion, as of writing.
Lubin said, "I see Consensys in a broad, deep capabilities machine for decentralized protocols ecosystem," allowing it to quickly capitalize at scale on fundamental new constructs such as wallets and developer tooling. This view resonates with our crypto natives and growth investors in a SeriesD that will allow us to execute exciting growth strategy.