Crypto Wallet Company Braavos Raises $10 Million Led By Pantera Capital

Braavos has received $10 million in funding for the introduction of a self-custodial wallet on StarkNet, an Ethereum scaling solution.

Pantera Capital is leading the seed round. According to a press announcement, other investors include Brevan Howard Digital, Crypto.com, Road Capital, Matrixport, and Starkware.

Pantera is the world’s largest cryptocurrency hedge fund in terms of assets under management. Dan Morehead, a former Goldman Sachs derivatives trader who later became the chief financial officer of Tiger Global Management, another large asset management business, created it in 2003.

Motty Lavie, Abraham Makovetsky, and Yoav Gaziel co-founded Braavos at the beginning of this year. According to Lavie, the business closed the all-equity financing at the onset of the bad market.

Braavos creates crypto wallets that allow the possessor to access the digital assets contained therein.

Custodial wallets place the keys, or passwords, in the hands of a centralized firm that promises security and a user-friendly interface. Self-custody retains the keys in the user’s possession, but the more rigorous onboarding procedure may deter new crypto users.

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