Unchained, a financial services firm offering collaborative custody multisignature vaults and loans for bitcoin holders, has secured $60m in a Series B led by Valor Equity Partners.
Founded in 2017, Texas-based Unchained helps users securely take control of their bitcoin with its cold storage vaults. Users can get access to the firm’s suite of integrated financial services, including a trading desk, bitcoin-backed loans, and bitcoin retirement accounts.
According to Unchained, Valor has a long track record helping innovative companies reach the broader market, both inside and outside of bitcoin. They are most famous for their early investments in SpaceX & Tesla but they have demonstrated their commitment to the bitcoin ecosystem through their growth investments in BitGo, Lightning Labs, Crusoe Energy and now in Unchained.
Unchained said, “Valor isn’t just providing funding and talking points. Their operational teams have already delivered significant value to Unchained in advance of this round and we will continue to rely on their advice and support going forward as we double-down on existing bitcoin products as well as launching new USD-denominated services for our clients to truly own their wealth.”
Valor partner and new Unchained member of the board Vivek Pattipati added, “In the midst of market chaos, Unchained has emerged as a highly trusted provider of bitcoin custody and financial services through superior technology, risk management, regulatory compliance, and client service.
“Particularly in lending, the company has differentiated itself by minimizing risk to both the lender and the borrower, leading to resilience and an extraordinary opportunity to capture market share.”
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