The India-based cryptocurrency startup Vauld raised $25 million in a Series A round. It was led by Valar Ventures, the fund of PayPal co-founder Peter Thiel.
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We’re excited to announce our $25M Series A funding round with an incredible team of investors.🚀https://t.co/rFj4wYQZKp
— Vauld (@Vauld_) July 29, 2021
Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Compound founder Robert Leshner and Cadenza Capital joined the round.
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Vauld plans to use the funds to scale the team, obtain licenses in various countries, and expand its services. According to the startup, over the past year its user base grew more than 200-fold.
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The company plans to create an over-the-counter platform for fiat and cryptocurrency operations, and to issue debit and credit cards in several countries. The project’s stated mission is to move all banking operations onto the blockchain.
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Vauld raised $2 million to expand the platform’s functionality and push into European and US markets from Pantera Capital, Coinbase Ventures, LuneX Ventures and private individuals.
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Earlier in March 2021, the Peter Thiel-founded fund led a round of financing for the cryptocurrency brokerage Bitpanda worth $170 million.
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