Cryptocurrency Wallet Provider ZenGo Seeks to Raise $10 Million in A Series of Deferred Financing

03/01/2023 22:10 • Metaverse Matters • 136 views

It is reported that ZenGo, a cryptocurrency wallet provider, is raising funds in the A series of deferred financing. According to a promotional material obtained by The Block, ZenGo hopes to raise US $10 million through convertible notes before the full round B financing later this year. The valuation of the A round of deferred financing is US $100 million, which is the same as the valuation of ZenGo’s A round of financing two years ago. ZenGo obtained a round A financing of US $20 million from investors including Insight Partners, Austin Rief Ventures and Samsung Next in April 2021.

Encrypted wallet ZenGo completed $10 million round A expansion financing

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ZenGo, a cryptocurrency wallet provider, is reportedly seeking to raise $10 million in a series of deferred financing before its full round B financing later this year, according to a promotional material obtained by The Block. The company plans to do so through convertible notes, with the A round valuation set at $100 million, the same as it was two years ago.

ZenGo had already secured $20 million in its A round financing in April 2021, with investors including Insight Partners, Austin Rief Ventures, and Samsung Next. The company was founded in 2018, with the goal of simplifying cryptocurrency storage for users. ZenGo claims to be the first wallet provider to offer a keyless wallet infrastructure, enabling users to store a range of digital currencies in one place without the need for complex backup phrases or private key management.

The move to raise additional funds indicates the company’s confidence in the growth potential of the cryptocurrency market, as well as ZenGo’s ambition to expand its offerings and services. The company seeks to build on the success of its keyless wallet infrastructure, which has garnered a positive response from users and investors alike.

As the world of cryptocurrency continues to evolve and gain mainstream acceptance, the demand for secure and user-friendly wallet solutions will continue to rise. ZenGo has positioned itself as a key player in this market, with its innovative keyless infrastructure offering a unique solution to the security and usability challenges that many cryptocurrency users face.

In conclusion, ZenGo’s move to raise $10 million in a series of deferred financing is a testament to the company’s strong position in the cryptocurrency wallet market, and its commitment to innovation and growth. The company’s keyless wallet infrastructure is a game-changer in the industry, and we can expect to see ZenGo continue to lead the way in the coming years.

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Cryptocurrency Wallet Provider ZenGo Seeks to Raise $10 Million in A Series of Deferred Financing

Encrypted wallet ZenGo completed $10 million round A expansion financing

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