Meow, a startup that provides a compliant-first approach to investors for investing in cryptocurrency, has announced that it has closed on $22 million in Series A financing. The round was led by Tiger Global. QED Investors also participated in the round along with leading cryptocurrency exchange FTX, and others.
Alex Cook, Partner, Tiger Global, “Meow’s prioritisation of risk management and compliance is filling a gap in the market for corporate crypto treasury management. We are excited by the vision to build a comprehensive suite of treasury and payment products, and the team has the right set of experiences to deliver on the roadmap.”
The latest investment would be used to hire across the engineering and marketing & sales team. The startup will also focus on accelerating their global presence in crypto markets.
Frank Rotman, Founding Partner and Chief Investment Officer at QED Investors said, “With the rise in globalisation and the increasing use of web3 infrastructure, businesses are increasingly facing the need to transact in more than their native currency. This shift puts pressure on finance teams to ensure they have the right type of currency in the right account at the right time to conduct business. Meow is building tools to address this problem, especially for those companies that need help managing their crypto assets and payments.”
The start-up was launched in early 2022 by Brandon Arvanaghi following seed financing from cryptocurrency industry leaders and investors, including Coinbase Ventures, Gemini Frontier Fund and Lux Capital. The founder’s aim is to make the startup a ‘one-stop shop’ for corporate finance.
“Nobody believed us when we said corporations would want to participate in crypto markets,” said Brandon Arvanaghi, Co-Founder and CEO of Meow. “Access to crypto yield is just the beginning. We’re coming for it all. We’re committed to making Meow the one-stop shop for corporate finance.”