Dragonfly, GSR and SIG Invest in a Digital-Asset Management Platform

Cabital, a platform for digital-asset management, attracted $4 million in a seed round of funding. Investors valued the startup at $40 million, ForkLog’s representatives said.

The round was led by venture firms Dragonfly Capital and GSR Ventures, as well as trading firm Susquehanna International Group (SIG). The funds will be used to grow the business in Europe, hire skilled professionals, and expand the platform’s capabilities.

By the end of the third quarter of 2021, Cabital will begin accepting euro deposits via the SEPA payments system. The startup will not set minimum or maximum top-up limits.

“We led the seed round for Cabital because we are seeing a surge in crypto investments,” commented SIG partner Lu Guo.

In May, Dragonfly Capital participated in a $40 million funding round for Babel Finance.

In March, the company opened a $225 million fund to invest in NFT and DeFi.