Investment of $150M in Phantom's Series C round, headed by Sequoia Capital and Paradigm
Phantom, a leading crypto company offering self-custodial wallet services, has raised $150 million in a Series C round, led by Sequoia Capital and Paradigm. With this fresh capital, Phantom plans significant expansion and growth in 2025, transforming from a simple wallet provider into a comprehensive consumer finance platform built entirely on crypto infrastructure.
The mission of Phantom remains to make crypto more accessible, intuitive, and safe for everyone. The company aims to accelerate product development and market presence through further strategic acquisitions and integrations.
Key expansion activities include the acquisition of Solsniper, a Solana-based trading platform focused on meme coin launches and rapid token trading. Phantom plans to maintain Solsniper as a standalone product while progressively adding new features and upgrades over the coming months.
An earlier acquisition, SimpleHash, has enhanced Phantom's capabilities in cross-chain NFT and token metadata support, strengthening decentralized app support and NFT trading.
Phantom has also bolstered its trading product offerings with the addition of a veteran crypto team led by @0xmaz_. This team aims to bring advanced features for active traders, improving product quality and performance.
These moves position Phantom to build a full-stack trading and data ecosystem atop its core wallet services, targeting increased user adoption, higher on-chain activity, and leadership in crypto consumer finance within the Solana ecosystem.
Investing in social discovery features and simplifying peer-to-peer transactions are also priorities for Phantom in 2025. The company currently has 15 million monthly active users and has overseen $20 billion in annual swap volume.
Phantom attributes its growth to Solana's fast, low-cost transactions and smooth user experience. The company aims to take on traditional finance and become the world's biggest consumer finance platform.
The acquisitions aim to make crypto safer and easier to use. Phantom has $25 billion in self-custody assets. The latest funding will be used to invest further in innovation and modernize consumer finance, according to Phantom's CEO, Brandon Millman.
Phantom also plans to double down on more acquisitions and partnerships in 2025. The round was participated by A16z Crypto and Variant, in addition to Sequoia Capital and Paradigm.
In conclusion, Phantom’s 2025 growth strategy centers on expanding its product suite through acquisitions, enhancing trading tools, and evolving into a broad crypto finance platform leveraging Solana infrastructure.
- Phantom's expansion strategy for 2025 includes transforming from a simple wallet provider into a comprehensive consumer finance platform, backed by $150 million in Series C funding, with focus on accelerating product development, increasing market presence, and implementing advanced trading features, particularly with the acquisition of Solsniper and addition of a veteran crypto team.
- As part of its mission to make crypto more accessible, intuitive, and safe for everyone, Phantom also aims to modernize consumer finance by investing in social discovery features, simplifying peer-to-peer transactions, and doubling down on more acquisitions and partnerships, all while maintaining a strong position on technology infrastructure like Solana.
