Crypto-Friendly Bank Lead Bank Raises $70 Million in Funding at a $1.47 Billion Valuation, Led by a16z

BlockBeats News, September 5th, Cryptocurrency-friendly bank Lead Bank, valued at $1.47 billion, completed a $70 million financing round. This round was led by a16z and Khosla Ventures, with existing investors Ribbit Capital, Coatue, and Zeev Ventures participating, and new investors including Iconiq Capital and Greycroft.

The additional funding will be used to strengthen the balance sheet to support its business expansion in the fintech field. Lead Bank's clients include "buy now, pay later" company Affirm Holdings Inc., corporate spending management platform Ramp Business Corporation, and the stablecoin business unit of Stripe Inc., which was recently acquired.