Crypto.com Has Introduced a $200 Million Startup Fund
The popular crypto services site will fund new blockchain startups and enterpreneurs.
- Crypto.com has launched a $200 million fund for crypto startups.
- It will issue cheques for seed rounds from $100,000 to $3 million and fund series A rounds between $3 million to $10 million.
- The company also reached 10 million users last week.
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Crypto.com to date has offered an exchange and wallet, plus crypto cards and loans products. Now, the firm is expanding its horizons: after passing 10 million users, the company is looking for long-term partnerships with crypto entrepreneurs and businesses.
That means Crypto.com will fund new cryptocurrency startups. It will issue cheques for seed rounds ranging from $100,000 to $3 million, and it will lead series A rounds ranging from $3 million to $10 million.
Bobby Bao, co-founder, said: “The motto and operating principle of Crypto.com Capital is ‘Founders First.’ As company builders ourselves, we understand how hard it is to bring game-changing ideas to life. Founders can count on us to move fast and provide both capital and access to a global user base, helping them succeed.”
Crypto.com has gained significant traction in the past year—expanding its user base across the world and even bagging a contract to sponsor Aston Martin’s Formula One team.
Disclosures: Crypto.com is a sponsor of Crypto Briefing. This article was written independently from that relationship. The author held BTC, ETH at the time of press.