ZenGo Closes $20M Series A Round to Build the Ultimate Retail Crypto Wallet
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TEL AVIV, April 27, 2021 /PRNewswire/ --
ZenGo, the crypto mobile wallet for retail investors, today announced a $20M Series A round led by Insight Partners with participation from Distributed Global (in partnership with Temasek Holdings) and Austin Rief Ventures, as well as existing investors Benson Oak Ventures, Samsung Next, Elron, Collider Ventures, FJ Labs, and others.
ZenGo plans to use the funds to expand its set of financial services, including a VISA payment card, and a bigger set of choices for on-ramp, off-ramp, trade and savings options. Additional plans include expanded support for assets and chains - currently the wallet supports over 50 assets including Bitcoin, Ethereum, Binance Coin, Tezos, and Terra - and further developing its Keyless Wallet security technology. The investment comes less than a year after the company launched its wallet on iOS and Android in early 2020, and less than three months after it shattered its previous annual processing volume records reaching $100M USD in the first quarter of 2021 alone.