Stackup raises $4.2m to streamline ops for crypto firms
Stackup, a digital asset management platform designed to help crypto businesses streamline their operations, has secured $4.2 million in seed funding.
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The round was led by 1kx, with participation from Y Combinator, Goodwater Capital, Soma Capital, Amino Capital, and Digital Currency Group.
Co-founded and led by a former mission manager at SpaceX, John Rising, Stackup helped build wallet infrastructure for major industry players like Coinbase and TrustWallet before pivoting to offer a digital asset management platform directly to businesses.
Coinciding with the influx of new capital, the startup has launched a direct banking integration feature to address the fragmentation between traditional and crypto operations.
Businesses can now connect their bank accounts to their Stackup wallet for seamless, non-custodial ACH transfers between their bank and wallet within their existing payment workflows.
In addition, it has expanded its support blockchains to include Ethereum, Base, Arbitrum, Optimism, Polygon, Avalanche, and BSC.
Says CEO Rising: 'This funding gives us the ability to eliminate operational inefficiencies that have historically hindered the adoption and growth of this industry.
"We're empowering businesses to streamline their financial operations and workflows, allowing them to focus on growth without compromising on security or control of their assets.'
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