SG crypto wallet BitKeep raises $15m in Dragonfly Capital-led Series A

BitKeep, a Singapore-based crypto wallet with four million verified users, announced raising $15 million in a Series A funding round led by crypto-focused investment firm Dragonfly Capital.

The funding round, which raised the startup’s valuation to $100 million, was also backed by a host of investors, including KuCoin Ventures, A&T Capital, Foresight Ventures, SevenX, Matrixport, Bixin Capital, Danhua Capital, Peak Capital, and YM Capital.

Founded in 2018, BitKeep claimed to serve more than four million verified users across 168 countries. Its decentralised multi-chain crypto wallet provides digital asset management services to global users.

The company has forged partnerships with top 30 chains, including Polygon, Solana, Binance Smart Chain, Ethereum, Terra (LUNA), Wax, Fantom, and Arbitrum, among others. It supports more than 50 chains, 8,000 decentralised applications, and 4,500 cryptos.

In a Twitter post, Kevin Como, BitKeep’s CEO, said the fresh funding will user the company into a “new stage of development”. The funding will also allow BitKeep to explore a new collaboration model that will build the company into a Web3 cross-chain and cross-layer protocol.

The investment is Dragonfly Capital’s second attempt to support a wallet company. The first was directed towards Consensys, the parent company of Metamask. It also marks the investment firm’s largest deal in this field.

Last week, the crypto-focused investment firm made a final close of its third venture fund and a feeder vehicle with capital commitments of $650 million, exceeding the original target of $500 million.

The cross-border crypto asset firm already has an active portfolio of 60 investments, including leading tech-driven cryptofunds and asset managers, decentralised financial infrastructure, and foundational protocols, such as Animoca Brands, CoinMetrics, CoinFlex, Amber, MobileCoin, RenrenBit, Derivadex, bybit, and more.

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