Braavos closes $10m in funding round

Led by crypto-focused investment firm Pantera Capital, all funds from the round will go towards product development.

Crypto wallet and Israel-based firm Braavos has closed $10m in a funding round led by American hedge fund Pantera Capital.

Brevan Howard Digital, Crypto.com and Matrixport were the other investors who also participated in the round.

All funds raised will be used to aid product development and accelerate hiring and marketing.

Founded earlier in the year, Braavos built its crypto product on the layer-2 blockchain StarkNet and addresses the scalability issues of the Ethereum blockchain.

Braavos is available to download on a web browser, Android and iOS, and combines both traditional asset storage and transfer options of a self-custody wallet with a built-in crypto exchange with access to decentralized applications.

Alongside depositing funds, Braavos users can buy, store, send, swap and manage their tokens and NFTs in one place.

The crypto wallet also provides a “transaction explainer” to help new crypto traders understand and review transactions and eradicate “confusing messages”.

Braavos CEO Motty Lavie said: “Crypto today is still too technical and complex for many users – requiring them to deal with seed phrases and security keys, suffer from low error tolerance and educate themselves on non-trivial DeFi protocols.

“Our mission is to eliminate these high friction hurdles and provide users with the smooth experience they deserve while preserving the core crypto values of decentralization and self-custody”.

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.