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Pillow needs to see the mass adoption of crypto providers and goals to make its platform accessible to newcomers
Crypto investments startup platform Pillow has introduced that it has raised $18 million in Sequence A funding, the spherical was co-led by Accel and Quona Capital and noticed participation from Elevation Capital and Bounce Capital.
Pillow is a digital asset administration app that goals to allow customers to get the perfect return on their digital property. Pillow has a aim to make it easy for customers to start out incomes returns on their crypto as their app takes care of the heavy lifting for its customers within the again finish whereas customers can take pleasure in seamless investments on the entrance finish.
The Pillow app presently has a group of greater than 75,000 customers in over 60 international locations, the app helps seven digital property, Bitcoin, Ethereum, Solana, Polygon, Axie Infinity, and USD-backed stablecoins USDC and USDT. The app has plans to increase sooner or later with over 20 extra property within the coming months. Because the begin of 2022, the corporate has grown its consumer base by 300% and has expanded into Nigeria, Ghana, and Vietnam.
Making crypto accessible for all
Pillow, CEO, Arindam Roy commented on the platform’s future targets, “At Pillow, we aspire to create and reward a tradition of disciplined private finance, together with financial savings and investments powered by entry to digital property, that allow younger, hardworking, bold folks to take management of their funds, obtain life targets and work in direction of monetary freedom. We’re creating a collection of high-quality, safe, and clear monetary merchandise that can grant our customers entry to international financial alternatives and allow them to take management of their monetary future”.
Pillow is trying to make use of the funding cash to strengthen its app and create a protected, accessible, borderless crypto funding platform for its customers.
Quona, co-founder and managing companion, Ganesh Rengaswamy additionally commented on the assist it provided Pillow, stating, “Borderless, permissionless cash has the ability to alter lives, notably in rising markets, and it could possibly convey extra folks into monetary programs. What Pillow is constructing can take away the friction of formal monetary programs for the underserved, whereas partaking customers in financial savings and investing behaviours. Quona is worked up to assist the corporate on its journey”.
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