Easy Company raises $14.2 million to create a crypto wallet

The Easy Company startup closed a $14.2 million seed round to simplify how users interact with the Web3 ecosystem.

2023, the year web3 gets EASY! 🚀https://t.co/V8NAlwR1Aa @TechCrunch

— The Easy Company (@TheEasyCoHQ) January 10, 2023

The round included venture firms Lobby Capital, Relay Ventures, 6th Man Ventures, Tapestry, Upside, Scribble and other investors.

Easy Company launched the eponymous cryptocurrency wallet with social features. The app is in early access on iOS and Android.

According to co-founder and CEO Mike Doherty, today many solutions in the Web3 space are too technically complex for ordinary people.

\”We are moving from this to creating a consumer product instead of a tool that leads to various design decisions,\” he said.

In aiming to ease audience interaction with the Web3 ecosystem, developers used a social-network-like app layout. For instance, users can swipe through NFTs similar to Instagram Stories.

Earlier, the self-custody Bitcoin tools developer Foundation Devices raised $7 million in a seed round led by Polychain Capital.

Earlier, Fred Wilson, co-founder of Union Square Ventures, warned investors about significant potential risks involved in investments in projects related to the next-generation Internet.

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