WalletConnect Raises $12.5M in Funding

WalletConnect, a New York-based web3 communications protocol company, raised $12.5M in funding.

Backers included Shopify, Coinbase Ventures, ConsenSys, Circle Ventures, Polygon, Uniswap Labs Ventures, Union Square Ventures, 1kx, HashKey, and Foresight Ventures.

The company intends to use the funds to accelerate growth, expand operations and its business reach.

Founded in 2018 by CEO Pedro Gomes, WalletConnect is a provider of a web3 communications protocol. The company establishes an end-to-end encrypted connection between a wallet and an app, enabling the wallet user to securely interact with the app and carry out actions such as transaction signing and token authentication. Its suite of APIs has been integrated by over 210 wallets and 450 apps to realize interoperability across blockchains, bridging users with web3’s fast-emerging products and experiences. Partner wallets and apps include Coinbase, MetaMask, Uniswap, OpenSea, Twitter, Stripe, and Plaid. WalletConnect integrations currently span the Ethereum, Solana,NEAR, Neo, Stellar, Algorand, Cosmos, and other blockchains.