Tangem raises $7m in investment round led by Shima Capital

Tangem Raises $7m in Investment Round Led by Shima Capital

Tangem, a Switzerland-based FinTech company, has successfully closed an investment round worth $7m. Shima Capital led the investment, with participation from other investors.

Founded in 2017, Tangem is a digital asset custody solution provider that enables secure storage of blockchain-based assets. Its offerings include hardware and software wallets, tamper-proof NFC cards, and mobile applications. The company caters to institutions, exchanges, and individuals who require secure storage of their digital assets.

Tangem intends to use the new funding to expand its product offerings, scale its operations, and strengthen its presence in the digital asset custody space. The company plans to launch new hardware products and extend its support for additional blockchains.

According to Andrey Kurennykh, co-founder and CEO of Tangem, “We are thrilled to receive this investment from Shima Capital and other investors. This funding will enable us to accelerate our growth and continue to provide our customers with best-in-class digital asset custody solutions.”

In 2018, Tangem raised $15m in a funding round led by Japan’s SBI Group. The company has also received funding from other investors, including LG CNS and the Cardano Foundation.

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