Goldman Sachs invests $28 million in Blockdaemon

Blockdaemon has joined the list of start-up companies in the blockchain network space that is dragging in major bags from investors.

A photo of Goldman Sach’s office outdoor look
Goldman Sachs’ office outdoor view

Start-up computer nodes and blockchain network producing company, Blockdaemon, has received an investment worth $28 million from Goldman Sachs Group Inc, an American multinational investment banking company, alongside other investors such as Voyager Digital Ltd, Warburg Serres, and others.

The company experienced immense growth during the COVID-19 pandemic global lockdown in 2020 and has since then gone on to garner clients like Citigroup, Robinhood, PayPal, and JP Morgan.

The CEO of Blockdaemon, Konstantin Richter stated that Blockdaemon recorded a net profit of $18 million in its first-quarter report, which is said to have further motivated investors to pay closer attention to the company.

Richter also stated that the funds from the investment will be used to acquire tangible assets and to grow the company’s workforce.

The net valuation of Blockdaemon was not disclosed.

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.