April 23, 2024
Turnkey, a leading provider of secure, flexible, and scalable wallet infrastructure for crypto developers, announced the completion of its $15 million Series A funding round. This round was led by Lightspeed Faction and Galaxy Ventures, with participation from Sequoia, Coinbase Ventures, Alchemy, Figment Capital, and Mirana Ventures.
Project | Latest Raise Date | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Turnkey | Apr 23, 2024 | $15M | Series A | $37M | Lightspeed Faction | Wallet |
Turnkey is dedicated to revolutionizing the cryptocurrency user experience by offering a secure and scalable wallet infrastructure that supports developers. With solutions that accommodate up to hundreds of thousands of transactions per day, Turnkey provides seamless onboarding through biometric passkey logins and smart wallet services.
The company has set ambitious future plans using recent funding to enhance its product suite and address fundamental UX issues in the crypto industry, committing to a decentralized future and empowering developers to create innovative on-chain products. By focusing on the fundamental challenges of self-custody, Turnkey is poised to make significant strides in onboarding the next billion users to the crypto space. Its innovative approach is set to transform the landscape of cryptocurrency utilization, making it more accessible and user-friendly.
About Turnkey
Turnkey is a private key infrastructure provider offering secure APIs to manage private keys. The company was founded by Bryce Ferguson and Jack Kearney, who previously built Coinbase Custody. Turnkey powers serious applications across various use cases, from wallets-as-a-service to programmatic backend crypto automation.
Website: https://www.turnkey.com/
X Account: https://x.com/turnkeyhq
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About Investor
Investor: Lightspeed Faction
Description: Lightspeed Faction is a joint venture between Lightspeed Venture Partners and Faction. Combining Faction’s crypto-only approach with Lightspeed’s deep Silicon Valley roots and platform business scaling resources, Lightspeed Faction operates independently while collaborating with Lightspeed on blockchain-related matters. The fund focuses on disruptive crypto projects at the early stage, investing in entrepreneurs across both equity and tokens. Their flexible, long-term approach aligns with the belief that crypto will have a seismic impact in the coming decades, and they seek to partner with builders who push the industry forward. Whether it’s DeFi or NFTs, Lightspeed Faction aims to support great entrepreneurs creating real utility in the blockchain space
Location: United States
Website: https://lightspeed.com/
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