Unchained Capital, an Austin, Texas-based crypto-finance company that lends cash to long-term crypto-investors, closed a $2.95m seed venture capital funding.
This include $2.4m in new capital and $595k in SAFE notes converting.
Backers included Michael Komaransky, Brian Spaly, Mike W. Erwin of Ecliptic Capital, and Ezra Galston of Starting Line. In addition to making investments in the seed round, Komaransky, Erwin and Galston will join Unchained Capital’s board.
The company intends to use the funds to expand the team and innovate its proprietary financial services and wealth management offerings.
Led by Joe Kelly, CEO, Unchained Capital is a financial services company that lends cash to long-term cryptocurrency holders who want to take advantage of their ownership but don’t want to sell their assets. The company is focused on offering Bitcoin and Ethereum secured $USD cash loans at friendly interest rates, for up to five years.
Using an open-source smart contract for the cold storage of collateral funds, Unchained Capital’s vault requires multiple signatures and hardware wallets for maximum security.