Solana’s ecosystem wallet, Phantom, clinches unicorn status as it raises $109 million

Phantom, a software wallet and browser extension for the Solana ecosystem has raised $109 million in Series B financing which puts the firm at unicorn status as it is valued at $1.2 billion.

The funding round was led by Paradigm, an investment firm focused on cryptocurrency and Web3 companies. Other venture firms to have supported Phantom in prior funding deals include Andreessen Horowitz, Jump Capital and Variant Fund.

According to Phantom, the funding will help enhance the wallet’s technical capabilities, such as better app discovery, as well as allow the company to hire additional employees.

The funds will also help Phantom to continue expanding its cross-platform capabilities beyond Solana.

In addition to its funding round, Phantom also announced today that its mobile app is now available for iOS devices.

Phantom currently boasts of over 2 million monthly active users, having doubled its user count in less than three months.

Much of that growth is tied to Solana ecosystem adoption, especially around Non-Fungible Tokens (NFTs).

– Nairametrics