Singapore’s Safeheron bags $7m pre-series A

Singapore's Safeheron bags $7m pre-series A

Singapore-headquartered Safeheron has reportedly raised $7m in its pre-Series A funding round.

The company has established a strategic partnership with crypto wallet MetaMask, according to a report from Pandaily.

As part of the deal, Safeheron will integrate its Multi-Party Computation (MPC) multi-signature security solutions with MetaMask. As a result, MetaMask users will benefit from an additional security level, improving the verification of apps and devices.

This investment was co-led by Yunqi Partners and Web3Vision, with commitments also coming from PrimeBlock Ventures, Cobo Ventures, M77 Ventures, ShataCapital, Kryptos, Antalpha Ventures, Waterdrip Capital, 7 O’CLOCK CAPITAL and Zhang Fan, the co-founder of Sequoia Capital China.

Founded in 2019 by Wade Wang, Max He and Bruce Wang, the company offers redefined custody that gives users 100% asset control. It boasts transparent audits, open-source algorithms and multi-party governance that safeguards assets.

The company claims to be a first-of-its-find security. Its MPC cryptography and hardware ensures private keys are never exposed.

Safeheron also offers a dashboard that enables firms to easily manage digital assets transfer and approve transactions anytime.

There have been a number of Singapore-based FinTech companies to raise funds recently. Earlier this week, Funding Societies raised a $50m credit facility from HSBC Singapore. The company offers digital financing to underserved SMEs in Asia Pacific.

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