January 27, 2021, 11:13AM EST
• 19 min read

BlockFi Company Intelligence

Quick Take

  • BlockFi provides liquidity and unlocks utility for digital assets by creating financial products and services that meet the needs of both retail and institutional clients
  • BlockFi now has over $8 billion in total client balances (more than 30x assets on platform in 4Q’19) with more than 125,000 funded accounts (12.5x funded accounts in 4Q’19)
  • BlockFi generated nearly $100 million worth of revenue in 2020 (+22x FY’19 revenue) at nearly ~30% gross profit margins
  • The market for crypto lending may be small relative to other credit products, but the sector is worth attention given its recent growth, pace of innovation, and ability to provide global access to credit on open financial settlement infrastructure (blockchains)
  • Looking ahead, the company is well-positioned to benefit and capture value from any potential secular growth tailwinds, even if and when more competitors build similar capabilities over time

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