Tiger Global backs treasury management startup Coinshift
Treasury management and infrastructure platform Coinshift has raised $15 million in a Series A round led by Tiger Global and joined by existing investor Sequoia Capital India. Alameda Ventures, Spartan Group, Ethereal Ventures, Alpha Wave Capital, Hash key Capital, Quiet Capital, Polygon Studios, Volt Capital and 300 and more angels and operators in crypto and fintech also participated in the round.
The startup will utilise the funds to develop its product and technology. It will launch its latest version in beta next week, which will be available through a waitlist.
It also plans to stay lean and expand its 16-member team to 25.
Founded by Tarun Gupta, Coinshift enables decentralised autonomous organisations (DAOs) and crypto businesses to manage cash reserves, general financing, and overall risk.
Since its launch in June 2021, the startup claims that its services have grown to manage 1,000 safes, $1.3 billion in assets and $80 million in payouts for organizations like Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol, Balancer and others.
Coinshift is apparently a moving startup with prodding improvement on financial services platform. I’m sure this startup would continue to prosper in its journey ahead. My best wishes to the entire group of Coinshift. This will give them a giant accomplishment later on.Shishir Gupta, Founder and CEO, StartupLanes
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
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