Singapore-based crypto investment platform Pillow has raised $18 million in Series A funding. The investment round was co-led by Accel (which backed LabLabee), Quona Capital, Elevation Capital, and Jump Capital. Elevation Capital led the seed investment round in the company in 2021.
Eyes to make crypto investments
Pillow seeks to use the funds to create simple, transparent, accessible products, including crypto investing, crypto savings, crypto payments, and other financial services for all. The young startup has plans to do even more to elevate the personal finance journeys of people in emerging markets such as Africa and Southeast Asia.
Arindam Roy, CEO of Pillow, said, “At Pillow, we aspire to create and reward a culture of disciplined personal finance, including savings and investments powered by access to digital assets, that enable young, hardworking, ambitious people to take control of their finances, achieve life goals and work towards financial freedom. We’re creating a suite of high-quality, secure, and transparent financial products that will grant our users access to global economic opportunities and let them take control of their financial future.”
“Borderless, permissionless money has the power to change lives, particularly in emerging markets, and it can bring more people into financial systems,” said Ganesh Rengaswamy, co-founder and managing partner at Quona. “What Pillow is building can remove the friction of formal financial systems for the underserved while engaging users in savings and investing behaviors. Quona is excited to support the company on its journey.”
Vaas Bhaskar, Principal at Elevation Capital said “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 a testament to the quality and seamlessness of the solution. We’re sure that this is just the beginning and are excited to partner on this mission to build the leading emerging markets digital asset management company.”
Pratik Agarwal, Principal at Accel said “Pillow aims to recreate the financial experience for consumers who struggle with access, on crypto rails. We’re excited to work with Arindam, Karthik, Rajath, and the team in reimagining what financial opportunity and inclusion look like in the digital age for global emerging and frontier markets.”
Offers best returns on crypto
Founded in 2021 by Arindam Roy, Rajath KM, and Kartik Mishra in Singapore, Pillow is a digital asset management app that helps users get the best returns on their digital assets with none of the associated hassles. It aims to make it as simple as possible for users to start earning the best returns on their crypto.
Within the Pillow app, users can invest and save in US Dollar-backed stablecoins, as well as multiple blue-chip cryptocurrencies including Bitcoin, Ethereum, and others. Users just have to transfer their crypto to their Pillow account and they start earning returns immediately. It does all the heavy lifting at the backend while ensuring a seamless investment journey on the front end.
