Cryptocurrency wealth platform Vauld has completed a $25 million Series A round led by Valar Ventures, a VC firm cofounded by Peter Thiel. Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner and Cadenza Capital also participated. The funding will be used to hire at least 100 people and expand its retail crypto banking and investing platform.
Working with Binance and BitGo, Vauld offers a secure and accessible platform available in more than 160 countries.
“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.”
“Valar’s focus is on transformative financial services companies,” Valar Ventures’ Andrew McCormack said. “What cemented the deal is Vauld’s global positioning and ambitions and the vision Darshan and his team have for building their customers’ wealth through crypto. 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.”
Vauld offers rates of up to 12.68% APY (with weekly payouts), no deposit or withdrawal fees and no fixed cap on daily withdrawals. Trading and automatic investment plans are also available.
“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,” Bathija continued. “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.”