Cryptocurrency wealth platform Vauld announced on Thursday it has received an investment of $25 million in Series A funding led by Valar Ventures, a VC firm founded by billionaire and Paypal Co-founder Peter Thiel, Andrew McCormack, and James Fitzgerald.

Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, Cadenza Capital, and others also participated in the round, the Singapore-headquartered company said in a statement.

The funding will be used to support the company’s international growth and licensing as well as expand its retail crypto banking and investing platform, according to Vauld.

“This capital will help propel Vauld to the next level. We built a platform that is truly user-first and we are humbled that Valar Ventures shares in our vision,” said Vauld Co-Founder and Chief Executive Officer Darshan Bathija.

Vauld said it has built a simple onramp for individuals around the world to easily access capital as well as grow their wealth through lending and trading cryptocurrencies. In partnership with its respective exchange and custody partners, Binance and BitGo, Vauld offers a secure and accessible platform that is relied upon by users in more than 160 countries.

In a statement, the company said it saw a 124.4 percent quarter-over-quarter growth in assets under management (AUM) from the first quarter of 2021 (1Q21) to 2Q21.

Vauld will leverage the capital to build out its team, aiming to fill at least a hundred new roles, and further its global expansion.

“Valar’s focus is on transformative financial services companies. What cemented the deal is Vauld’s global positioning and ambitions and the vision Darshan and his team have for building their customers’ wealth through crypto. We look forward to Vauld benefiting from our team’s expertise in understanding how to build a global business across emerging tech hubs in Europe, Asia, and North America,” Valar Ventures founding partner Andrew McCormack said.

Vauld’s products offer users many ways to earn and build crypto wealth and continues to expand its suite of world-class crypto-banking products. In addition to offering the best rates for earning interest by lending crypto (up to 12.68 percent annual percentage yield or APY, with weekly payouts) alongside no deposit or withdrawal fees and no fixed cap on daily withdrawals, Vauld also offers trading and Automatic Investment Plans (AIPs).

“While Vauld is headquartered in Singapore, the majority of our team is in India, and we’ve seen more than 200 times growth in our global user base over the last year,” Bathija said. “We have a clear foothold in India and Valar’s investment is a true testament to the optimism we share for the large and emergent Indian market.”

Valar Ventures led Vauld’s Series A round with participation from previous investors including Pantera, New Form Capital, Coinbase Ventures, CMT Investments, CoinShares, Robot Ventures, and others. The company has raised $27 million total capital since its inception.

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