Vauld, the cryptocurrency-based financial products platform, has received an investment of $25 million in Series A funding, led by Peter Thiel-backed Valar Ventures. 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 the company's international growth and licensing as well as expand its retail crypto banking and investing platform.
“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. “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.”
The firm said it has seen 124.4 per cent quarter-over-quarter growth in AUM from 1Q21 to 2Q21. Vauld will leverage the capital to build out its team, aiming to fill at least a hundred new roles, and further its global expansion.
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 said it offers a secure and accessible platform that is relied upon by users in more than 160 countries.
“Valar's focus is on transformative financial services companies. What cemented the deal is Vauld's global positioning and ambitions and the vision Darshan (Bathija) and his team have for building their customers' wealth through crypto,” said Andrew McCormack of Valar Ventures. “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,” said Andrew McCormack of Valar Ventures.
Vauld's suite of products offers users many ways to earn and build crypto wealth. It continues to expand its suite of crypto banking products.
“While Vauld is headquartered in Singapore, the majority of our team is in India, and we've seen more than 200x growth in our global user base over the last year,” said Bathija. “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 inception.
