Who Owns Phantom?
Phantom is owned by Phantom Technologies, Inc., a privately held Delaware corporation headquartered in San Francisco and founded in 2021 by Brandon Millman, Francesco Agosti, and Chris Kalani. The company has raised $268 million from investors including Sequoia Capital, Paradigm, and a16z crypto, reaching a $3 billion valuation in January 2025. The wallet counts 22 million users across eight blockchains.
Parent Company
Founded
2021
Status
Private
Headquarters
GlobalOfficial Website
Who Owns Phantom?
- Parent Company: Phantom Technologies, Inc.
- Ownership Type: Wholly owned
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Phantom | Phantom Technologies, Inc. | Wholly owned |
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History of Phantom
- Founded: 2021
- Founders: Brandon Millman, Francesco Agosti, Chris Kalani
Phantom launched in 2021 as a Solana-first browser extension wallet, arriving just as Solana's ecosystem exploded. Co-founders Millman, Agosti, and Kalani had previously built products at 0x Labs and designed Phantom to be the polished, consumer-grade wallet that Solana lacked compared to Ethereum's MetaMask.
Growth was rapid: the $9 million Series A closed in July 2021, followed by a $109 million Series B in January 2022 that valued the company at $1.2 billion despite the crypto downturn that followed. Phantom survived the post-FTX collapse and expanded from Solana to Ethereum, Polygon, and later Bitcoin, Base, Sui, and Monad, reaching eight supported chains by late 2025.
Strategic acquisitions built out the platform: embedded wallet startup Bitski (May 2024), security firm Blowfish (November 2024), and SimpleHash (2025) for token data infrastructure. The product expanded beyond storage into swaps, staking, fiat on-ramps via Phantom Cash accounts, debit cards, perpetual futures through Hyperliquid integration (July 2025), and prediction markets through Kalshi.
The January 2025 Series C, $150 million co-led by Sequoia and Paradigm, set a $3 billion valuation and repositioned the company's ambition from crypto wallet to consumer finance platform. User counts hit 15 million monthly actives in early 2025 and 22 million globally by early 2026, with FY2025 revenue of roughly $320 million, up 60 percent from $200 million in 2024.
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About Phantom Technologies, Inc.
What kind of company is Phantom Technologies?
It is a venture-backed consumer crypto software company that develops the Phantom self-custody wallet and its integrated trading, fiat, and prediction products.
Is Phantom Technologies publicly traded?
No. It is private, last valued at $3 billion in its January 2025 Series C led by Sequoia Capital and Paradigm.
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Who owns Phantom Technologies?
Founders Brandon Millman, Francesco Agosti, and Chris Kalani alongside venture investors Sequoia, Paradigm, a16z crypto, Variant, and others who contributed its $268 million in funding.
How much revenue does Phantom Technologies make?
Approximately $320 million in FY2025, up from $200 million in 2024, generated mainly from in-app swap and perpetual futures fees.
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Where is Phantom Technologies headquartered?
The company is incorporated in Delaware and headquartered in San Francisco, California, with a remote workforce across 23 countries.
How many users does Phantom have?
22 million active users as of early 2026, up from 10 million monthly actives in 2024 and a peak near 17 million during the 2025 cycle.
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- Founded: 2021
- Headquarters: San Francisco, California, USA
- Company Type: Privately Held
- Revenue: Approximately $320 million (FY2025)
- Employees: Approximately 405
Where Is Phantom Made / Based?
- Headquarters: San Francisco, California, USA
Phantom Categories & Tags
Awards & Recognition
Phantom was named to the Forbes Fintech 50 list in 2026, and the app has repeatedly topped App Store finance category charts during periods of peak crypto interest. Its growth metrics are tracked publicly through DeFiLlama, which lists it among the highest-revenue applications in crypto.
Phantom Recalls & Controversies
Phantom has avoided major hacks of its own infrastructure, but like all self-custody wallets it faces persistent phishing and drainer attacks targeting users through malicious sites and compromised front-ends. The 2024 Blowfish acquisition was made specifically to strengthen scam detection and transaction simulation warnings.
The company operates in a regulatory gray zone common to wallet software: it is a non-custodial tool provider, but its expansion into perpetuals, prediction markets, and fiat products brings it progressively under financial-services scrutiny, a transition the company has signaled it intends to pursue deliberately.
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Phantom Ownership: Pros & Cons
Advantages
- +$268 million war chest and $3 billion valuation from tier-one crypto VCs
- +Dominant position in Solana, the highest-activity retail blockchain
- +Revenue-generating model, roughly $320 million in 2025
- +Acquisitions expanded security and fiat capabilities quickly
Considerations
- -Revenue is highly correlated with volatile crypto trading cycles
- -Self-custody model faces tightening consumer-protection and DeFi regulation
- -Competition from MetaMask, Coinbase, and exchange super-apps is intensifying
- -Perps and prediction markets add regulatory and reputational exposure
Frequently Asked Questions About Phantom
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Sources & Further Reading
Competitors to Phantom
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Bybit | United Arab Emirates | 2018 | Mass market | Global | All Genders |
Learn More About Competitors
Competitive Analysis
Market Positioning: Phantom competes with 1 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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