Coinshift raises $15 million in Series A funding led by Tiger Global
- ByStartupStory | May 18, 2022
Coinshift, treasury management and infrastructure platform have raised $15 million led by Tiger Global Existing investors like Sequoia Capital India also took part in the round along with Alameda Ventures, Polygon Studios, Volt Capital, Alpha Wave Capital, and Hash Key Capital, Quiet Capital and 300 other angel investors in crypto and fintech sectors participated.
Coinshift is a treasury management and infrastructure firm which allows decentralised autonomous organisations (DAOs) and crypto businesses that manage cash reserves, general financing and overall risk. The company will use the funds to make its product and technology. The firm is also planning to launch its latest version in beta next week which will be available through a waitlist.
Since the launch of the company in June 2021, its services have grown to manage over 1000 safes with $1.3 billion in assets and $80 million in payouts for firms like Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol and others. It also strategises to remain lean and extend its 16-membered team to 25.
Tarun Gupta, the founder and CEO of the company said that in Coinshift’s version 1, the team has done an incredibly well job in building an advanced mass payouts platform. And now with version 2, the company took a massive leap toward enabling DAOs of any size to organize the treasury.
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