Lending Platform Vauld Raises $25M in Round Led by Peter Thiel-Founded Venture Firm
As well as building out its platform, Vauld intends to use the investment to drive international expansion.
Jul 29, 2021 at 11:32 a.m. UTC:format(webp)/downloads.coindesk.com/arc/failsafe/placeholders/16x9.png)
Jamie Crawley is a CoinDesk news reporter based in London.
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.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/www.coindesk.com/resizer/Wsw21Z13uYNeMwlEy09fcHX_LHw=/arc-photo-coindesk/arc2-prod/public/Z2G3HHMTVJGWRAQIH4UHCT3FEY.jpg)
Jamie Crawley is a CoinDesk news reporter based in London.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Jamie Crawley is a CoinDesk news reporter based in London.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/7LDC7D5IS5DBPL4N6UTVLA4SXM.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PJTR3KRDWJCRVE3QREM6KUOK7A.png)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/3LWYGWIABFELHGBEOVTO3DR75M.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/3LVJ335VWVFJFA34THBXFTMHAE.jpg)