Pillow needs to see the mass adoption of crypto companies and goals to make its platform accessible to newcomers
Crypto investments startup platform Pillow has introduced that it has raised $18 million in Sequence A funding, the spherical was co-led by Accel and Quona Capital and noticed participation from Elevation Capital and Leap Capital.
Pillow is a digital asset administration app that goals to allow customers to get the perfect return on their digital property. Pillow has a objective to make it easy for customers to begin incomes returns on their crypto as their app takes care of the heavy lifting for its customers within the again finish whereas customers can get pleasure from seamless investments on the entrance finish.
The Pillow app presently has a neighborhood of greater than 75,000 customers in over 60 international locations, the app helps seven digital property, Bitcoin, Ethereum, Solana, Polygon, Axie Infinity, and USD-backed stablecoins USDC and USDT. The app has plans to develop sooner or later with over 20 further property within the coming months. For the reason that begin of 2022, the corporate has grown its consumer base by 300% and has expanded into Nigeria, Ghana, and Vietnam.
Making crypto accessible for all
Pillow, CEO, Arindam Roy commented on the platform’s future targets, “At Pillow, we aspire to create and reward a tradition of disciplined private finance, together with financial savings and investments powered by entry to digital property, that allow younger, hardworking, bold individuals to take management of their funds, obtain life targets and work in the direction of monetary freedom. We’re creating a collection of high-quality, safe, and clear monetary merchandise that may grant our customers entry to international financial alternatives and allow them to take management of their monetary future”.
Pillow is wanting to make use of the funding cash to strengthen its app and create a secure, accessible, borderless crypto funding platform for its customers.
Quona, co-founder and managing accomplice, Ganesh Rengaswamy additionally commented on the assist it supplied Pillow, stating, “Borderless, permissionless cash has the ability to alter lives, notably in rising markets, and it could deliver extra individuals into monetary programs. What Pillow is constructing can take away the friction of formal monetary programs for the underserved, whereas partaking customers in financial savings and investing behaviours. Quona is happy to assist the corporate on its journey”.
