- Phantom secures $150M to expand financing options and develop innovative social tools for its engaged clients.
- The platform processes $20B in yearly swaps and aims to enhance ease of use for digital token holders.
- This funding marks the largest crypto investment of 2025, highlighting Phantom’s role in advancing decentralized finance.
Digital asset holder Phantom, proposed to raise $150 million in a Series C round, valuing the company at $3 billion. Led by Sequoia Capital and Paradigm, the round also saw participation from Variant and Andreessen Horowitz. The funding aims to expand peer-to-peer settlement functionality and introduce a viral discovery feature for its 15M loyal consumers. Phantom, founded in 2021, manages over $20 billion in yearly swap volume and has $25B in self-custody assets.
A Strategic Push Toward Peer-to-Peer Payments
The organisation plans to use the funds to improve the user experience with seamless peer-to-peer transactions and a new social discovery function. CEO Brandon Millman emphasized the company’s goal, stating,
Our mission has always been to make crypto more accessible, intuitive, and safe for everyone
The firm’s rapid growth is attributed to its focus on Solana’s “quick, inexpensive transactions and seamless user experience.” Notably, Phantom’s revenue and trade volumes spiked in late 2024, outpacing competitors like Coinbase Wallet and MetaMask.
In November 2024, Phantom became the second most popular app in the Apple App Store’s utilities category. This milestone highlights the app’s growing appeal among cryptocurrency users.
Surpassing Rivals and Setting New Records
Phantom’s Series C funding round is the largest crypto investment of 2025, surpassing Sygnum Bank’s $58 million round earlier this week. The company’s ability to attract significant capital signals growing investor interest in decentralized finance and user-controlled tools.
Phantom’s robust user base, combined with its non-custodial services for safeguarding NFTs, positioning it as a leader in the digital wallet space. The company attributes its success to its commitment to user trust and innovation.
Founded by Brandon Millman, Chris Kalani, and Francesco Agost in San Francisco, Phantom is shaping the future of decentralized finance. In addition to offering non-custodial services, it focuses on simplifying crypto transactions for a new generation of users.
With its latest funding, Phantom aims to redefine consumer finance, ensuring intuitive and secure access to cryptocurrency. Could this be the beginning of a broader shift in digital asset adoption?
