Digital assets infrastructure company Zero Hash this week announced $35 million in new Series C funding. The investment round was led by Point72 Ventures alongside NYCA Partners, DriveWealth, and other unnamed investors. Several notable angel investors also participated in the round including Immad Akhund (Mercury founder and CEO), Kalpesh Kapadia (Deserve founder and CEO), Ethan Bloch (Digit founder and CEO), and Jason Gardner (Marqeta founder & CEO).
“Zero Hash is defining an entire new fintech vertical of ‘digital-assets as a service’. Zero Hash is a pure-play B2B embedded infrastructure platform that allows any platform to integrate digital assets natively into their own customer experience quickly and easily,” said Edward Woodford, founder and CEO. “We power digital asset trading and custody, crypto-backed rewards programs as well as yield through staking and DeFi. Zero Hash handles the entire back-end complexity and regulatory licensing required to offer digital asset products.”
Zero Hash technology has been incorporated by neo-banks MoneyLion and Wirex and broker-dealers such as tastyworks and TradeStation. The company said it is working with some of the largest brands across the fintech and financial services ecosystem to power their upcoming crypto offerings.
The company will use the proceeds of the round to continue to expand its product offering including within DeFi and NFTs, add staff across compliance, marketing, product, and engineering, expand its global licensing framework and make strategic acquisitions.
“Zero Hash has developed a unique platform to help fintechs and financial institutions seamlessly embed crypto products and experiences into their applications in a flexible and compliant way,” said Adam Carson, partner at Point72 Ventures. “We believe embedded finance solutions, like Zero Hash’s crypto API platform, will help play an important role in enabling broader adoption of digital assets by allowing consumers to access crypto through the fintech apps and financial services brands they already use and trust.”