The funding will be used to support the company’s international growth and licensing as well as expand its retail crypto banking and investing platform
Vauld offers users ways to earn and build crypto wealth including its asset-backed lending and borrowing platform, which currently supports over 30 cryptocurrencies
Prior to the deal, the company claims to have been experiencing a 124.4% quarter-over-quarter growth in AUM from Q1 FY21 to Q2 FY21
Global crypto platform Vauld today announced it received an investment of $25 Mn in Series A funding, led by Valar Ventures. Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, Cadenza Capital, and others also participated in the round.
The funding will be used to support the company’s international growth and licensing as well as expand its retail crypto banking and investing platform. Vauld will also build out its team, aiming to fill at least a hundred new roles.
Founded in 2018 by Darshan Bathija and Sanju Sony Kurian, Vauld offers users ways to earn and build crypto wealth including its asset-backed lending and borrowing platform, which currently supports over 30 cryptocurrencies. It has also partnered up with exchange and custody partners, Binance and BitGo. The company has raised $27 Mn total capital since inception.
Prior to the deal, the company claims to have been experiencing a 124.4% quarter-over-quarter growth in AUM from Q1 FY21 to Q2 FY21.
“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,” said Darshan Bathija, Vauld co-founder and CEO.
The Indian market is currently an important target for multiple global companies. The number of active Indian crypto users is currently well over 15 Mn. According to a report by India’s industry association IndiaTech.org, Indian users held crypto assets worth more than $1.5 Bn back in May itself, and their daily trades in crypto were worth $350-500 Mn. The number has only increased since then.
The number of blockchain startups in this space has also gone up from 100+ in 2018 to 300+ in 2021. Moreover, there have been increasing cases of funding from international investors such as Tiger Global, Draper Associates, Binance, Coinbase, Block.One and Polychain Capital.
