The Crypto Treasury startup Coinshift has raised $2.5M. This whopping amount was seed-funded by Sequoia Capital, Sandeep Nailwal (the co-founder and COO of Polygon).
Coinshift was founded by Tarun Gupta, who is a blockchain entrepreneur by profession. This makes managing crypto easier for decentralized autonomous organizations (DAO) and businesses. With more than $90 billion stacked up in crypto treasuries, Coinshift works on diversifying treasuries by building an asset management system with risk management.
This $2.5M was raised on September 30, 2021.
Who has invested in Coinshift?
Coinshift is backed by 12 investors. Two of the most notable investors are DeFi Alliance and BR Capital. This project has just started off with the seed round of funding for this budding venture. With so much already raised from the seed round, we might expect a private round soon enough.
A few of the investors who have invested in this budding project are:
- Weekend Fun
- Protocol Labs
- Sandeep Nailwal
- Ethereal Ventures
- LongHash Ventures, and etc.
Tarun has a clear-cut way ahead of him for the future of Coinshift. He has also mentioned that this seed round would help them in working around expanding non-technical and non-cenyricak. Apart from the user-friendly UI, their UX also claims to have access to mass pay-outs quickly. On integrating with Decentralized Finance protocols, they are also enabling businesses to invest their digital assets to diversify their risks and generate worthwhile yields. It also has provisions for multi-signature wallets, defining a specific salary structure for organizations, and so on.
The crypto treasury start-up Coinshift is working against tough competitors like Bitwage and Sablier to enable payroll transactions based on crypto. Although it is too early to predict anything further ahead, considering the principles of Coinshift, it could bring a fundamental change in conventional finance. Organizations would consider paying the employees in cryptocurrency, which could be a great step towards legitimizing crypto.
Learn more about crypto fundraising on Crypto Bulls Club, one of the leading crypto PR blogs in India. Meta Description: The Crypto Treasury startup Coinshift has raised $2.5M. This whopping amount was seed-funded by Sequoia Capital