After the recent round of funding, the digital personal finance platform intends to accelerate the adoption of crypto services in emerging economies including those in Africa and Southeast Asia.
Cryptocurrency investment platform Pillow, run by Pillow Digital Technologies, announces on Wednesday that it has secured funding amounting to $18 million in a Series A funding round co-led by Accel, Quona Capital, Jump Capital. Existing investor Elevation Capital also backe the firm in the round.
After the recent round of funding, the digital personal finance platform intends to accelerate the adoption of crypto services in emerging economies including those in Africa and Southeast Asia. However, it has already expanded to some emerging markets including Nigeria, Ghana, and Vietnam, among others.
Arindam Roy, Co-founders, Pillow said in a statement, “We are creating a suite of high-quality, secure, and transparent financial products that will grant our users access to global economic opportunities and let them take control of their financial future.”
Ganesh Rengaswamy, Co-founder and Managing Partner, Quona Capital, mentioned that Pillow’s offerings “can remove the friction of formal financial systems for the underserved, while engaging users in savings and investing behaviours.”
Earlie to the recent fund raise, the digital asset management startup raised seed capital of $3 million from Elevation Capital in February this year. The company intended to build ‘alpha-generating’ decentralised financing strategies for crypto assets like Bitcoin, Ethereum and other coins, and expand globally through this funding.
The Singapore-based company is also backed by investors like Farid Ahsan (ShareChat), Mukund Jha (Dunzo), Kush Taneja & Sambhav Jain (FamPay), Mike Rosengarten (Camino), Brijesh Bharadwaj (Dunzo), Paul Finney (SpaceKayak) and Suhas Motwani (The Product Folks), among others.
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