- Turnkey, an infrastructure provider for cryptocurrency wallets, has announced the completion of a $15 million Series A funding round.
- The funding round was led by Lightspeed Faction and Galaxy Ventures.
- Turnkey was founded by the developers of Coinbase Custody, a popular custodial service for cryptocurrencies.
Turnkey aims to provide secure, scalable, and flexible wallet infrastructure to enable developers to build innovative products in the crypto space.
The funding round saw participation from other notable investors such as Sequoia, Coinbase Ventures, Alchemy, Figment Capital, and Mirana Ventures.
The CEO of Turnkey, Bryce Ferguson, emphasized that the project’s goal is to offer tools for creating flexible and reliable custody solutions, acknowledging that many crypto users primarily hold cryptocurrencies as a store of value.
Turnkey’s primary client is the Alchemy platform, which utilizes their infrastructure to promote their WaaS (Wallet as a Service) product.
The funds from the Series A round will be used to further scale the platform and launch new products.
You can find more information and stay updated on investment rounds in the Web3 sector through Incrypted’s regular digest.