Segment: DeFi / Business Model: B2B / Stage: Seed
Purpose: Wallet platform designed to offer custody of digital assets
Problem: As more companies come into crypto they will want to hold (have custody) of their digital assets. Setting up a custody wallet is easy, but navigating security and regulation can be tricky
Solution: A white-label custody product where companies can be up and running easily and secure their digital assets
Team:
Martin Kreitmair - Co-founder and CEO
Alexey Utin - Co-founder and CTO
Christopher Zapf - Co-founder and CPO
Traction:
Funding: Rasied €7M seed round in Apr 22 from Nauta Capital, HTGF and C3 Management
Growth: Managing over €400M of digital assets under custody, increasing revenue 5x in the last 4 months
Customers: Working with Tezos Foundation, Quirin Privatbank and Exporo
Positive Signals:
Traction: Looking like a rocket ship, 5x revenue is 4 months this year already
Financials: Have been growing through their own profitability
Customers: Last year alone they onboarded 25 new customers
Funding: Were 4x oversubscribed in the latest round
Risks:
Market: Very noisy with a lot of players, but they are carving out the backend to enable anyone to safely manage their own digital assets