Singapore-based lender Vauld raised $25 million in Series A funding to expand its retail crypto banking platform in a round led by Peter Thiel-founded Valar Ventures.
- Existing investors Pantera Capital and Coinbase Ventures also participated, the company said Thursday.
- Vauld, most of whose team is located in India, forms part of the broader picture of crypto firms seeking the appropriate licensing and registration to operate as fully fledged banks offering lending and savings products.
- As well as building out its platform, Vauld intends to use the investment to drive international expansion.
- Having established a foothold in India, the firm told CoinDesk in December 2020 that it intends to expand its licensing to other markets such as Singapore, the U.K. and the crypto-friendly U.S. state of Wyoming.
- "What cemented the deal is Vauld’s global positioning and ambitions and [its] vision have for building customers’ wealth through crypto," said Andrew McCormack, co-founder of Valar Ventures, alongside billionaire entrepreneur and PayPal founder Peter Thiel.