Wilson Sonsini Advises Paxos on $142 Million Series C Fundraise

On December 17, 2020, Paxos, the first regulated blockchain infrastructure platform and PayPal cryptocurrency partner, announced it has closed a $142 million Series C funding round. Declaration Partners, the investment firm backed by the family office of David M. Rubenstein, led the round, which includes investments from Mithril Capital, PayPal Ventures, RIT Capital Partners plc, Ken Moelis, Alua Capital, Senator Investment Group, and more. Previous Paxos investors also participated in the round, including RRE Ventures and Liberty City Ventures. To date, Paxos has raised more than $240 million in funding. Wilson Sonsini Goodrich & Rosati represented Paxos in the transaction.

Paxos will continue investing in developing enterprise-grade infrastructure solutions while deepening its commitment to regulation, reliability, and security. Paxos will use this capital to accelerate growth, including scaling its operations and platform capacity to meet the demands of its expanding customer base. The company plans to double the size of its team and will explore all opportunities for growth.

The Wilson Sonsini team advising Paxos includes Damien Weiss, Jordan McDonnel, Rob Broderick, and Abi Riddle.

Please see Paxos’ press release for more information.