Crypto Wallet Phantom Announces $150M Series C

Gunderson Dettmer represented client Phantom, a developer of a crypto wallet designed for decentralized finance (Defi) and non-fungible tokens (NFTs), in its $150 million Series C financing co-led by Sequoia Capital and Paradigm. The company, which is now valued at $3 billion, is a crypto wallet with fast, low-cost transactions and a smooth user experience for a whole new generation of users, unencumbered by the limits of centralized exchanges. Phantom plans to use the new capital to make bigger bets to accelerate crypto adoption and become the world’s biggest and most-trusted consumer finance platform.

In the announcement of the transaction, Phantom CEO Brandon Millman said, "Our mission has always been to make crypto more accessible, intuitive, and safe for everyone. This latest round of funding allows us to invest further in innovation and ultimately, modernize consumer finance.”

The Gunderson Dettmer deal team was led by Randall Clark and included Aliya Sanders, Nick Feldman, Rafa Bellaver, Olivia Aulicino and David Koenig.

Companies
Phantom
Sequoia Capital
Paradigm