CryptoNinjas » Crypto investment platform Unchained Capital closes $5.5M funding round

Unchained Capital, a provider of a full-suite platform for individuals and businesses to store long-term wealth in bitcoin with private key ownership, announced today the closing of a $5.5 million equity seed round led by institutional Bitcoin technology and financial services firm NYDIG.

In addition to leading the equity round, NYDIG has made an initial lending commitment of $50 million; and will continue to be the principal funding partner to Unchained in support of its bitcoin-backed multi-signature lending platform.

Also participating in the round are existing investors Ecliptic Capital, Starting Line, Platform Ventures, Stronghold Resource Partners, Trammell Venture Partners’ Bitcoin Venture Fund, and Capital Factory.

“The teams at NYDIG and Unchained Capital share a mission built on the foundation of a bitcoin standard. We believe there are significant opportunities to create synergies across our respective custodial and non-custodial platforms.”
– Joseph Kelly, CEO & Co-Founder of Unchained Capital

The partnership and new funding come on the heels of Unchained reaching over $1 billion of bitcoin secured and over $80 million of loans originated. Proceeds will be used to grow the 25 person team, further the partnership with NYDIG, and expand the company’s lending and trade execution capabilities; in addition to growing its suite of services to include bitcoin lending and bitcoin payments infrastructure.

Unchained differentiates itself by providing a custody solution that allows clients to maintain unilateral control of their bitcoin while integrating financial services that leverage the same collaborative custody architecture to minimize trust and increase security.

“We are thrilled to be working closely with the fantastic team at Unchained and to be helping them further their mission of securing their clients’ futures. NYDIG is committed to investing in providers and technologies dedicated to Bitcoin, and Unchained is a prime example. The NYDIG team and I look forward to working with Unchained to accelerate its growth and expand its ability to deliver premium services, like lending, to bitcoin holders.”
– Robert Gutmann, Co-Founder & CEO of NYDIG

NYDIG and Unchained Capital offer complementary platforms to the large and growing market of long-term bitcoin holders. Both firms are focused on building critical infrastructure for bitcoin and delivering financial services, while offering different custody architectures to different target markets.

CryptoNinjas » Crypto investment platform Unchained Capital closes $5.5M funding round

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