Money & Banking

Vauld raises $25 million Series A led by Valar Ventures

Our Bureau Bengaluru | Updated on July 29, 2021

Cryptocurrency platform will use the fund for expansion

Cryptocurrency platform Vauld has raised $25 million Series A led by Valar Ventures, a VC firm founded by Peter Thiel, Andrew McCormack, and James Fitzgerald. Other investors like Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, and Cadenza Capital also participated in the round.

The funding will be used to support its international growth and licensing as well as expand its retail crypto banking and investing platform. Vauld will also use this capital to hire at least a hundred new team members.

Vauld has built a platform for people to globally access and grow capital through lending and trading cryptocurrencies. In partnership with its respective exchange and custody partners, Binance and BitGo, Vauld claims to have users in over 160 countries. The company has raised a total of $27 million in funding till date.

“We’ve seen great momentum with Vauld and we attribute it to both our technology as well as our customer support. This capital will help propel Vauld to the next level of growth,” said Darshan Bathija, Vauld co-founder and CEO.

While Vauld is headquartered in Singapore, the majority of its team is based in India. The company claims to have seen more than 200x growth in its global user base over the last year. Vauld reported 124.4 per cent quarter-over-quarter growth in AUM between the first quarter of the fiscal year 2021 to the second quarter of the fiscal year 2021.

“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. We look forward to Vauld benefiting from our understanding of how to build a global business across Europe, Asia, and North America,” said Andrew McCormack of Valar Ventures.

Published on July 29, 2021

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