Meow, the compliant crypto yield providing for company treasuries, as we speak introduced it has closed on $22 million in Collection A financing.
The spherical was led by Tiger International, with participation from QED Buyers, main cryptocurrency alternate FTX, and others, and will probably be used to assist the corporate’s speedy progress with new hires and enhanced product options.
Meow gives institutional and company traders with a compliant-first method to collaborating in rising cryptocurrency funding alternatives. Since launching in early 2022 following seed financing from cryptocurrency trade leaders and traders, together with Coinbase Ventures, Gemini Frontier Fund and Lux Capital, Meow’s providing has shortly been embraced by company treasury departments. In lower than six months, Meow grew company property below administration to just about $100 million resulting from speedy adoption of the cash-in-cash-out, short-term high-yield investing alternatives by a spread of firms.
“No person believed us after we mentioned companies would wish to take part in crypto markets,” mentioned Brandon Arvanaghi, Co-Founder and CEO of Meow. “Entry to crypto yield is just the start. We’re coming for all of it. We’re dedicated to creating Meow the one-stop store for company finance.”
Along with hiring throughout its advertising and gross sales and engineering groups, Meow has a number of new product enhancements below growth. Within the coming months, it would launch a GAAP accounting resolution and start rolling out options of a B2B stablecoin suite, together with cross-border fee options.
“Meow’s prioritization of threat administration and compliance is filling a niche out there for company crypto treasury administration,” mentioned Alex Cook dinner, Associate, Tiger International. “We’re excited by the imaginative and prescient to construct a complete suite of treasury and fee merchandise, and the crew has the proper set of experiences to ship on the roadmap.”
“With the rise in globalization and the growing use of web3 infrastructure, companies are more and more going through the necessity to transact in additional than their native forex. This shift places stress on finance groups to make sure they’ve the proper sort of forex in the proper account on the proper time to conduct enterprise,” mentioned Frank Rotman, Founding Associate and Chief Funding Officer at QED Buyers. “Meow is constructing instruments to handle this drawback, particularly for these firms that need assistance managing their crypto property and funds.”