Crypto treasury management service Coinshift closes Series A

Coinshift, a treasury management and infrastructure platform for crypto businesses, has scored $15m in its Series A.

Tiger Global served as the lead backer, with Sequoia Capital India, Product Hunt founder Ryan Hoover, Alameda Ventures, Spartan Group, Ethereal Ventures, Alpha Wave Capital, Hash key Capital, Quiet Capital, Polygon Studios and Volt Capital joining the round.

The company claims to have experienced rapid growth since its launch in June 2021, including over $1.3bn assets and $80m in payouts for organisations.

The FinTech company provides DAOs and crypto businesses with a treasury management and infrastructure platform to help manage cash reserves, general financing and overall risk.

The version 2 of its technology was created in collaboration with leading Decentralized Autonomous Organizations. This new version will let users manage multiple Gnosis Safes for multiple chains under one organization to enable significant time saving and achieve transparency in treasury operations, it said.

One of the biggest changes is that users can now add multiple safes to a single organisation across multiple chains.

Coinshift founder and CEO Tarun Gupta said, “Today, a new chapter of the Coinshift journey begins. We are unveiling a glimpse into our platform’s second version, through which we share our vision to build the most sophisticated multichain treasury infrastructure for Web3.

“The fact our investors have returned to participate in a series A funding round is a testimony to the quality of our platform and the timely solution we offer to fill the current needs in the market.”

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