Pillow Raises $18 Million in Series A funding

The Singapore-based startup, Pillow is a cryptocurrency investment platform operated by Pillow Digital Technologies Pte Ltd.

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It secured a funding amount of $18 million in a Series A funding co-led by Accel and Quona Capital, with participation from Elevation Capital and Jump Capital.

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According to the press release, Pillow is focused on emerging markets like Africa and Southeast Asia and the app currently has over 75,000 users in over 60 countries.

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It supports 10 digital assets, including Bitcoin, Ethereum, Solana, Polygon, Axie Infinity and USD-backed stablecoins USDC and USDT.

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In addition to it, it has plans to expand to over 50 assets in the coming months.

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The company claims to have strengthened its user base by 300% since the beginning of 2022 and increased assets under management by 5x.

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Now in its growth phase, Pillow plans to introduce transaction fees as new products launch, including swaps and tokenized real-world assets.

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