Unchained Capital, Inc., an Austin TX-based provider of financial services for individuals ad businesses, raised $25M in Series A funding.
The round was led by NYDIG and parent company Stone Ridge Holdings Group with participation from existing investors Ecliptic Capital, Starting Line, Stronghold Resource Partners, TVP Bitcoin Venture Fund, Ten31, and Platform Ventures. In addition to leading the equity round and increasing their minority stake, NYDIG has made an incremental lending commitment of $100m and will continue to be the principal funding partner to Unchained in support of its bitcoin-backed multisig lending platform. This increase brings NYDIG’s total lending commitment with Unchained to $150m.
Founded in 2016 by Joe Kelly, CEO, Unchained Capital is building a full-suite financial services platform for individuals and businesses that store long-term wealth in bitcoin and demand private key ownership.
In February, NYDIG made an initial investment in Unchained Capital through a minority equity stake and agreed to provide $50m of lending capital. The partnership enabled Unchained to accelerate development of its technology and financial services platform, and contributing to a five-fold increase in its bitcoin-collateralized lending business over the past six months.