Crypto Wallet ZenGo Raises $10M

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ZenGo, an Israeli non-custodial cryptocurrency wallet startup, has raised $10 million in convertible bonds through an extended Series A funding round, with the company being valued at $100 million.

The startup is aiming to bring in larger investments in the upcoming Series B round, which is set to take place at the end of 2023. Co-founder and CEO of ZenGo, Uriel Ohayon, remarked that they are currently in contact with investors who are interested in their company but cannot comment on any transactional rumors.

April 2021 saw ZenGo raise $20 million, which they used to launch a crypto debit card in partnership with Visa, with the round being led by Insight Partners, and supported by Austin Rief Ventures and Samsung Next.

ZenGo currently supports 50 cryptocurrencies, with the number of registered users of their crypto wallet at over 800,000. They hope to increase this figure to 2 million by the end of 2023. In February, investors valued Blocto, a multi-chain wallet, at $80 million after a Series A funding round.