Online capital formation platforms seeking to provide growth capital for early-stage firms have decisively moved into providing secondary offerings, adding value for investors registered on their platforms.
Crowdcube, a top UK-based platform, is currently offering investors the opportunity to invest in Blockchain.com prior to a future initial public offering via an indirect structure.
According to the offering page, shares in Blockchain.com are being offered at £10.47, which is said to be at a discount to a prior funding round. Crowdcube is matching current shareholders who are interested in liquidating some of their shares with people seeking to purchase private shares in the firm.
Crowdcube shares;
After increasing from a $5.2bn valuation in 2021 to a peak of $14bn in 2022, the company’s valuation subsequently corrected to below $7bn in 2023 following the “crypto winter”, a period of falling digital-asset prices, reduced trading volumes and weaker investor sentiment across the crypto sector.
The current secondary transaction sets a valuation of $4 billion for Blockchain.com
The offering page indicates that 263 investors have participated in the offering, committing £110,699, with the offering closing in about 20 days.
Blockchain.com was founded in 2011 in the UK as the first Bitcoin block explorer. The platform has grown into a full-service crypto platform over the last 14 years, providing crypto trading, a non-custodial wallet supporting over 94 million users, and tokenized equities. The platform was approved under MiCA in 2025, allowing services across all EEA countries.
Secondaries are part of a broader theme, as many investment crowdfunding platforms started life serving only primary offerings and now offer more mature investments, giving investors more options.
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