Blockchain, a leading software platform for digital assets, has announced that it has raised $40 million in Series B funding round.

According to the official release, the round was led by Lakestar, and also saw participation from GV (formerly Google Ventures), Nokota Management, and Digital Currency Group. Existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson (Virgin Group) also participated in the round.

“We are thrilled to lead the investment in Blockchain and believe in their vision of a more transparent, affordable, and fair financial future. To have Blockchain, the leader in fintech, based in Europe reinforces what innovation and impact the Eurozone is capable of achieving,” said Dharmash Mistry, General Partner at Lakestar.

Blockchain said that the amount raised will be directed towards global expansion and localization efforts as well as research and development of emerging digital assets.

“The 14 trillion dollar financial services industry hasn't meaningfully changed in over a century. Blockchain is on a mission to create a financial system that is faster, more inclusive, and radically different than the status quo”, Blockchain CEO and Co-Founder, Peter Smith stated.

The recent round follows a series A round in 2014 in which Blockchain raised $30.5 million, bringing the total to over $70 million till date.

The company was founded in 2011 as an open source software project. Blockchain’s wallet software currently has millions of active users in 140 countries across the globe. It enables them to transact quickly and without costly intermediaries, resulting in billions of monthly consumer transaction volume. It also offers tools for developers and real-time transaction data for users to analyze the burgeoning digital economy.