ZenGo, a Tel Aviv, Israel-based crypto mobile wallet for retail investors, raised $20M in Series A funding.
The round was led by Insight Partners with participation from Distributed Global (in partnership with Temasek Holdings) and Austin Rief Ventures, as well as existing investors Benson Oak Ventures, Samsung Next, Elron, Collider Ventures, FJ Labs, and others.
The company plans to use the funds to expand its set of financial services, including a VISA payment card, and a larger set of choices for on-ramp, off-ramp, trade and savings options. Additional plans include expanded support for assets and chains – currently the wallet supports over 50 assets including Bitcoin, Ethereum, Binance Coin, Tezos, and Terra – and further developing its Keyless Wallet security technology.
Led by Ouriel Ohayon Co-founder and CEO, ZenGo provides a mobile wallet, available on iOS and Android, that offers retail investors a way to buy, sell, trade, and earn over 50 crypto currencies and counting. Its Keyless Wallet technology, based on Multiparty Computation (MPC) replaces traditional single point of failure security with distributed secret shares and facial biometrics.