BlockFi startup to form a team of specialists

BlockFi, a company operating in the cryptocurrency lending market, has posted the vacancy of the Chief Financial Officer. A specialist with 15 years in the field of corporate finance will have to deal with issues of investment, acquisitions and potential initial public offer (IPO), writes “forklog.com“.

The top manager will have to form and lead a team of specialists who will help create the basis for BlockFi’s possible entry into the stock exchange. In a conversation with The Block, the head of the company Zach Prince allowed an IPO in the second half of 2021 or later. Sources of the publication reported ongoing negotiations on an additional round of funding.

In February, BlockFi raised $ 30 million during a Series B financing round. PayPal co-founder Peter Thiel Valar Ventures, Morgan Creek Digital, Winklevoss Capital, and others, were investors. The company seeks to become a universal consumer bank for the cryptocurrency market with trading, lending and providing highly profitable deposits.

In May, Whitney Rakhlin, the former vice president of American Express, joined BlockFi, who was tasked with launching a credit card in bitcoins by the end of the fourth quarter of this year.

In April, BlockFi attracted investments from the asset manager of Three Arrows Capital. The latter, along with another strategic partner, the Poolin mining pool, will facilitate the expansion of the landing platform to Asian markets.

According to the results of the second quarter, the company reported a doubling of monthly income. The driver was halving and launching a mobile application. The functionality of the latter allows customers to open and manage an interest account, trade, attract loans and transfer funds from a bank and wallet.