Tiger Global backs treasury management startup Coinshift
May 19, 2022
Treasury management and infrastructure platform Coinshift has raised $15 million in a Series A round led by Tiger Global and joined by existing investor Sequoia Capital India. Alameda Ventures, Spartan Group, Ethereal Ventures, Alpha Wave Capital, Hash key Capital, Quiet Capital, Polygon Studios, Volt Capital and 300 and more angels and operators in crypto and fintech also participated in the round. The startup will utilise the funds to develop its product and technology. It will launch its latest version in beta next week, which will be available through a waitlist. It also plans to stay lean and expand its 16-member team to 25. Founded by Tarun Gupta, Coinshift enables decentralised autonomous organisations (DAOs) and crypto businesses to manage cash reserves, general financing, and overall risk. Since its launch in June 2021, the startup claims that its services have grown to manage 1,000 safes, $1.3 billion in assets and $80 million in payouts for organizations like Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol, Balancer and others.