Bitcoin financial services firm Unchained Capital raises $25 million in Series A funding

Jun 4, 2021 | The Block News | 0 comments

bitcoin-financial-services-firm-unchained-capital-raises-$25-million-in-series-a-funding

Unchained Capital, a bitcoin-focused financial services firm, has raised $25 million in a funding round led by NYDIG and its parent company, Stone Ridge. 

The Series A round was announced Friday and included participation from Ecliptic Capital, Starting Line, Stronghold Resource Partners, TVP Bitcoin Venture Fund, Ten31 and Platform Ventures.

NYDIG is an existing investors in Unchained Capital, per a press statement, and as part of the deal, “has made an incremental lending commitment of $100 million and will continue to be the principal funding partner to Unchained in support of its leading bitcoin-backed multisig lending platform.”

“We are thrilled to deepen and expand our partnership with the Unchained Capital team as we continue on our shared journey of building the bitcoin infrastructure of the future,” said NYDIG co-founder and CEO Robert Gutmann.

NYDIG has raised several hundred million dollars since the start of 2021, and in May struck a deal with FIS to enable banks to offer bitcoin services to their customers. Last month, NYDIG hired a former Bridgewater exec to serve as its CFO.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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