Pillow, a Singapore-based crypto investment startup, has raised $18M in a series A funding round co-led by Accel, Quona, and Jump Capital.
The money raised will be used to expand into underdeveloped countries, onboarding communities from Africa and Southeast Asia.
“We’re creating a suite of high-quality, secure, and transparent financial products that will give our users access to global economic opportunities and let them take control of their financial future.”
Arindam Roy, Pillow Chief Executive Officer
Pillow is a digital asset management app with 75,000 users in over 60 countries. It enables users to get the best return on their digital assets. The app also has the capability to store invested cryptocurrencies in US Dollar-backed stablecoins and lots of cryptocurrencies.
As said before, the company plans to expand into Southeast Asia and Africa. Pillow recently expanded into Nigeria, Vietnam, and Ghana, emerging economies, resulting in a 300% user base growth.
“The lack of intuitive, user-friendly platforms is a big impediment to large-scale adoption of digital assets as an investment class, and Pillow is doing a phenomenal job in bridging this gap. The growth they’ve been able to achieve since inception is testament to the quality and seamlessness of their solutions,
Vaas Bhaskar, Principal at Elevation Capital