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Today: November 6, 2024
February 14, 2024
1 min read

Electric Capital Leads $10M Seed Extension for FordeFi’s Security

TLDR: FordeFi, a provider of wallet-as-a-service platforms, has secured $10 million in a seed extension funding round. The funding was led by Electric Capital and also saw participation from Paxos and Alchemy. FordeFi plans to use the funds to accelerate the development of its institutional-grade platform, which allows exchanges, fintechs, and web3 businesses to offer their users a secure, user-owned wallet within their applications. The platform has already facilitated over $3 million in transactions and has attracted clients such as DeFiance Capital, Pantera Capital, and Flare Network. With this funding, FordeFi aims to address the challenges of combining accessibility and education in self-custody wallets. The company believes that this will help facilitate the mass adoption of web3 wallets and promote the safe management of digital assets.

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