Tag: Valar Ventures

Vauld raises $25 million Series A led by Valar Ventures

Banking & Finance

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Cryptocurrency platform Vauld has raised $25 million Series A led by Valar Ventures, a VC firm founded by Peter Thiel, Andrew McCormack, and James Fitzgerald. Other investors like Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, and Cadenza Capital also participated in the round.

The funding will be used to support its international growth and licensing as well as expand its retail crypto banking and investing platform. Vauld will also use this capital to hire at least a hundred new team members.

Vauld has built a platform for people to globally access and grow capital through lending and trading cryptocurrencies. In partnership with its respective exchange and custody partners, Binance and BitGo, Vauld claims to have users in over 160 countries. The company has raised a total of $27 million in funding till date.

“We’ve seen great momentum with Vauld and we attribute it to both our technology as well as our customer support. This capital will help propel Vauld to the next level of growth,” said Darshan Bathija, Vauld co-founder and CEO.

While Vauld is headquartered in Singapore, the majority of its team is based in India. The company claims to have seen more than 200x growth in its global user base over the last year. Vauld reported 124.4 per cent quarter-over-quarter growth in AUM between the first quarter of the fiscal year 2021 to the second quarter of the fiscal year 2021.

“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. We look forward to Vauld benefiting from our understanding of how to build a global business across Europe, Asia, and North America,” said Andrew McCormack of Valar Ventures.

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BukuWarung raises $60 million in Series-A round

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Indonesian fintech company BukuWarung, founded by Indian entrepreneurs Chinmay Chauhan and Abhinay Peddisetty, has raised $60 million in Series-A funding, increasing the total fund raised to about $80 million.

The round was led by US-based venture capital firms Valar Ventures, early investors in global fin-tech unicorns Wise and N26, and Goodwater Capital, the company said in a statement.

Existing investors such as Quona Capital and angel investors such as former GoPay CEO Aldi Haryopratomo, Klarna founder Victor Jacobsson, Khatabook CEO Ravish Naresh and partners from SoftBank and Trihill Capital also took part in the round.

The funding is the largest Series-A round raised by an MSME player globally, it added.

Team size

BukuWarung will use the funding to enhance technology and product capabilities across core accounting, digital payments and commerce products. The company is expected to double the team size within a year by hiring across regions, including India, Indonesia and Singapore.

Abhinay Peddisetty, Co-Founder & CEO of BukuWarung, said: “The digital solutions specific to the needs of small businesses in the emerging economies of Asia and the world are the need of the hour with the aftermath of the Covid-19 pandemic”.

“We are already a leader in MSME digital payment in Indonesia. With this funding, we aim to leverage the talent base and learnings from the MSME ecosystem across Asia, including India, for the digital empowerment of MSMEs in Indonesia and beyond,” he added.

BukuWarung is a Y-Combinator backed technology company that builds digital infrastructure for 60 million MSMEs in Indonesia. To date, the company has more than 6.5 million registered merchants on the platform across 750 Indonesian cities and towns.

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