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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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BlockFi valued at $3B after $350M Series D

Financial services company, which provides zero-fee trading and crypto-based interest accounts, $350 million in Series D funding, co-led by , partners of , Pomp Investments and , to give the company a $3 billion valuation.

Additional backers in the round include聽, , , and . The $350 million round follows three prior rounds totaling $100 million within the last two years. The most recent was a $50 million Series C round last August, led by , to continue developing products for cryptocurrencies. In total, BlockFi has raised just over $508 million in known investments, according to Crunchbase data.

The Jersey City, New Jersey-based company was founded by and in 2017 and offers a suite of financial products that seamlessly interact with one another, enabling clients to build and manage wealth through digital asset investments.

Since the end of 2019, BlockFi has seen its client base grow from 10,000 to more than 225,000 today. Monthly revenue currently exceeds $50 million, and the company now boasts more than $15 billion in assets on its platform, with a 0 percent loss rate across its lending portfolio since inception. The company has grown its team to over 500 people worldwide.

— Christine Hall

Coupang prices IPO above range

South Korean e-commerce giant priced shares for its upcoming IPO at $35, above the projected range of $32 to $34. The offering raised $4.6 billion for the company, which is slated to begin trading on NYSE under the ticker symbol CPNG.

— Joanna Glasner

Funding rounds

Hi Marley lands $25M for communication platform:聽Boston-based , developer of a smart short-messaging platform built for the insurance industry, announced that it has closed a $25 million Series B financing round led by 1. The startup plans to use the financing to add new features, enhance scalability and beef up its engineering, sales and customer-facing teams.

—听Joanna Glasner

Fintech

FalconX, River Financial raise rounds: , a San Francisco-based cryptocurrency financial services company, announced a $50 million investment led by and . It gives the company $67 million in total known funding following a round last May, according to Crunchbase data. FalconX provides institutions trading, credit and clearing, and over the past year, grew its net revenue 46 times, driven by 鈥渋ncreased demand for cryptocurrencies from institutional investors seeking an inflationary hedge in an unprecedented macroeconomic environment,鈥� the company said. The new funds will also be used to build out the team and expand business lines.

San Francisco-based Bitcoin financial services provider closed on a $12 million Series A round, led by . Cousins and founded the company in early 2019 to offer a place for people to buy, sell, store and manage Bitcoin. It previously raised $5.7 million in seed funding last June to give it $17.7 million in known funding. After hitting an all-time high back in February, the has ridden a roller coaster the past month to sit at approximately $56,658.

— Christine Hall

Hospitality

Rock Paper Coin inks $1.625M: , a Portland, Oregon-based collaboration and payments tool for wedding and event professionals, brought in $1.63 million in funding led by , as well as and . Rock Paper Coin鈥檚 B2B software offers digital contracts, invoices and payments for anyone who is transacting in the wedding industry. Since , the company has processed more than $1.8 million in transactions, much of it in 2020, despite the event industry coming to a halt during the global pandemic.

, a social gathering and communication platform that covers every facet of real life, raised $26 million in Series A funding led by with participation from and .

— Christine Hall

Venture Capital

High Alpha Capital Raises New $110M Fund: Indianapolis-based closed its third fund, a new $110 million fund targeting enterprise cloud companies. The new fund will be used to invest in pre-seed, seed and Series A rounds. High Alpha has raised more than $215 million across its three funds and its investments include companies such as , and .

鈥� Chris Metinko

Health care

HelloSelf secures $7.6M for online therapy: London-based raised a 拢5.5M Series A round ($7.6 million), led by , to provide individuals and organizations with personalized digital therapy services. The new round gives the company $11.2 million in known funding, according to Crunchbase data. founded the company in 2018 to offer online therapy and psychological coaching that uses an app-based platform for automated reminders, encouragement and video sessions. HelloSelf currently has a team of more than 150 clinical psychologists, engineers and developers, and provides coaching and treatment to over 1,500 members. Investment in mental health-focused startups has increased since 2017. The Crunchbase dataset shows 301 known venture deals since 2016 in. During that time, investors pumped nearly $2.6 billion into these companies.

— Christine Hall

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