Vauld Raises $25 Mn Series A Round Led By Valar Ventures The funding will be used to support the company's international growth and licensing as well as expand its retail crypto banking and investing platform
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Vauld, the global platform for building wealth with crypto, on Thursday announced that it received an investment of $25 million in Series A funding, led by Valar Ventures. Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, Cadenza Capital, and others also participated in the round.
The funding will be used to support the company's international growth and licensing as well as expand its retail crypto banking and investing platform.
Onramps to capital and wealth remain inaccessible around the world to many different populations. Vauld has built a simple onramp for individuals around the world to easily access capital as well as grow their wealth through lending and trading cryptocurrencies. In partnership with its respective exchange and custody partners, Binance and BitGo, Vauld offers 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, co-founder and chief executive officer, Vauld. "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."
On the heels of recent momentum, with 124.4 per cent quarter-over-quarter growth in AUM from 1Q21 to 2Q21, Vauld secured $25 million in Series A funding led by Valar Ventures, a VC firm founded by Andrew McCormack, James Fitzgerald, and Peter Thiel. Vauld will leverage the capital to build out its team, aiming to fill at least a hundred new roles, and further its global expansion.
"Valar's focus is on transformative financial services companies. What cemented the deal is Vauld's global positioning and ambitions and the vision Darshan and his team have for building their customers' wealth through crypto. We look forward to Vauld benefiting from our team's expertise in understanding how to build a global business across emerging tech hubs in Europe, Asia, and North America," shared Andrew McCormack, Valar Ventures.
Vauld's suite of products offers users many ways to earn and build crypto wealth and continues to expand its suite of world-class crypto banking products. In addition to offering the best rates for earning interest by lending crypto (up to 12.68 per cent APY, with weekly payouts) alongside no deposit or withdrawal fees and no fixed cap on your daily withdrawals, Vauld also offers trading and Automatic Investment Plans (AIPs).
"While Vauld is headquartered in Singapore, the majority of our team is in India, and we've seen more than two-hundred-time growth in our global user base over the last year," Bathija continued. "We have a clear foothold in India and Valar's investment is a true testament to the optimism we share for the large and emergent Indian market."
The company has raised $27 million total capital since its inception.
