1. Cryptocurrency & Blockchain
  2. Technology

Crypto Custody Firm Curv Raises $23 Million In Series A

Curv, a startup that provides crypto custody services to institutions, recently brought in $23 million during a Series A funding round, drawing investment from industry players such as Digital Currency Group, Coinbase Ventures and CommerzVentures.

The company, which offers an innovative multi-party computation (MPC) security solution that eliminates the need for keys, also announced the existence of tX, a group of cryptographers and other technologists who will leverage Curv’s keyless solutions to create deployment models that can be used by both traditional and crypto-focused financial institutions.

Curv indicated it plans to use the funds raised to pursue multiple objectives, including hiring staff, fueling expansion and supporting the development of new products.

Stefan Tirtey, managing partner at CommerzVentures, weighed in on his firm’s decision to support Curv during its Series A funding round.

“We like to back teams that can articulate how they are going to dominate their target market,” he stated.

“Curv’s founders have a high level of credibility in a number of relevant areas: cybersecurity, digital assets, enterprise software, as well as B2B marketing and sales in financial services.”

“Curv had won highly referenceable clients on both ends of the spectrum: traditional banks and pure-play crypto players,” added Tirtey.

“Moreover, eToro – another investment of ours – is a client and gave Curv a glowing reference.”

Itay Malinger, cofounder and CEO of Curv, also weighed in on the Series A round.

“We remain committed to sourcing funds from investors that mirrored both the diversity and global makeup of our client base, which currently spans both crypto-native and traditional financial institutions as well as all continents,” he stated.

“The demand for Curv’s product in Europe, more specifically the BaFin (Germany’s financial authority) regulated custodial market, has skyrocketed over the last year,” noted Malinger.

“Therefore, once introduced to CommerzVentures, the VC company that is part of the Commerzbank Group, it seemed like a natural fit for Curv to partner with them, given their inroads in financial services and track record of investing in leading fintech and financial infrastructure companies.”

“Working with Digital Currency Group (DCG) and Coinbase Ventures allows Curv to benefit from each organizations’ expansive crypto-native ecosystems, affording expanded opportunities for both partnership and collaboration,” he stated.

By supporting innovative companies like Curv, CommerzVentures hopes to contribute to the maturation of the space, said Tirtey.

“We have a particular interest in funding the ‘plumbing’ for the next generation of financial infrastructure,” he stated. “Curv fits right into that theme.”

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.

Comments to: Crypto Custody Firm Curv Raises $23 Million In Series A

Your email address will not be published. Required fields are marked *