May 11, 2021

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Mastercard-Backed ConsenSys Raises $65M To Enhance Its Ethereum Blockchain Solutions Ecosystem

ConsenSys, which offers integrated Ethereum technology solutions, has raised $65M via a convertible note. The round was backed by JPMorgan, Mastercard, and UBS, as well as other investment firms and crypto companies.

How’s the company performing?

  • New York City-based ConsenSys develops blockchain infrastructure and applications, offering a suite of products (Codefi, Diligence, Infura, MetaMask, Truffle, and Quorum) that enable enterprises and developers to “access and build on Ethereum.”
  • MetaMask, ConsenSys’ decentralized finance (DeFi) solution, caters to 3M monthly active users, while over 150,000 developers use Infura’s APIs. The company says it expects its revenue to double to $60M in 2021.
  • ConsenSys has been helping Australia, France, Hong Kong and Thailand develop their own central bank digital currencies.
  • Last year, ConsenSys restructured its business operations to form two main arms – “ConsenSys,” its blockchain technology business, and “ConsenSys Mesh,” its investment arm and incubator.
  • ConsenSys recently acquired Quorum, an enterprise-centric Ethereum solution from JPMorgan, which is currently part of ConsenSys’ in-house offerings.
  • The company’s customers include Microsoft, Amazon Web Services, Ernst & Young, and Procter & Gamble, among others.

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The post Mastercard-Backed ConsenSys Raises $65M To Enhance Its Ethereum Blockchain Solutions Ecosystem appeared first on CB Insights Research.