Crypto Treasury Manager Coinshift Raises $15 MMultisafe Inc., the parent company of crypto treasury management and infrastructure firm, Coinshift, has raised USD 15 Mn in Series A funding round. The round was led by Tiger Global. Coinshift intends to use the funds to introduce a fresh version in beta in the coming week. The version can be availed via a waitlist, the company said in its statement.
“With Coinshift’s version 1, we built a mass payout platform. Now, we intend to unveil the second version that will build a sophisticated multichain treasury infrastructure for Web3,” said Tarun Gupta, Founder of Coinshift.
Pre-existing investor Sequoia Capital India, Ethereal Ventures, Alpha Wave Capital, HashKey Capital, Alameda Ventures, Spartan Group, Quiet Capital, Polygon Studios, Volt Capital and over 300 other angel investors from the fintech and crypto industries participated in the funding round. The Web3-centred fintech firm also saw participation from Sandeep Nailwal, Polygon co-founder; Prabhakar Reddy, FalconX founder; Scott Belsky, Behance founder and Lenny Rachitsky, ex senior executive at Airbnb.
Tarun Gupta led Coinshift was founded in 2021 and helps DAOs (Decentralised Autonomous Organisations) and crypto firms oversee cash reserves, general finance processes and overall risks. Coinshift manages payouts worth over USD 82 Mn for companies including Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol, Balancer amongst many others. The treasury manager oversees over 1,200 safes and assets worth more than USD 1.2 Bn.
“We’ve been impressed by the pace of product development at Coinshift. It’s clear there is a huge need for crypto native treasury management and payments, and we are excited to back Coinshift as they roll out the next iteration of the platform,” Alex Cook, Partner at Tiger Global, said. Led By Tiger Global