Vauld, a Singapore-headquartered global crypto wealth platform, announced that it secured $25 million in a Series A funding round that will support its international growth and licensing as well as expand its retail crypto banking and investing platform.
The funding round was led by Valar Ventures and participated by Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, Cadenza Capital, and others, according to the announcement.
Vauld’s products offer users many ways to earn and build crypto wealth including asset-backed lending and borrowing platform, which currently supports 30 cryptocurrencies and offers the most competitive rates to users in more than 160 countries.
Vauld said onramps to capital and wealth remain accessible around the world to many different populations. The startup has built a simple onramp for individuals to easily access capital as well as grow their wealth through lending and trading cryptocurrencies.
It partners with exchange and custody partners Binance and BitGo to offer a secure and accessible platform that is relied upon by users in more than 160 countries.
“We’ve seen great momentum with Vauld and we attribute it to both our technology as well as our customer support—that’s our strongest suit and it’s proven because when customers start using Vauld, they don’t leave,” said Darshan Bathija, Vauld co-founder and CEO.
The company reported a 124.4% quarter-over-quarter growth in AUM from 1Q21 to 2Q21.
Valar Ventures, the lead investor in the Series A funding round, is a venture capital firm founded by Andrew McCormack, James Fitzgerald, and Peter Thiel.
The startup said it will leverage the capital to build out its team, aiming to fill at least a hundred new roles, and further its global expansion.
“This capital will help propel Vauld to the next level. We built a platform that is truly user-first and we are humbled that Valar Ventures shares in our vision,” Bathija said.