Crypto corporate treasury firm Meow raised $22 million in a Series A funding round led by Tiger Global, with participation from QED Investors, FTX and others, as the startup moves to grow its workforce and expand its product features.
Headquartered in New York, New York and co-founded earlier this year by CEO Brandon Arvanaghi and CTO Bryce Crawford, both former Gemini engineers, Meow provides institutional and corporate investors with a compliant-first approach to participating in emerging cryptocurrency investment opportunities.
“Nobody believed us when we said corporations would want to participate in crypto markets,” Arvanaghi said in a press release on Monday (July 18). “Access to crypto yield is just the beginning. We’re coming for it all. We’re committed to making Meow the one-stop shop for corporate finance.”
The company received seed financing from backers including Coinbase Ventures, Gemini Frontier Fund and Lux Capital, with the goal of being embraced by corporate treasury departments. Meow grew corporate assets under management to nearly $100 million in less than six months, according to the release.
“Meow’s prioritization of risk management and compliance is filling a gap in the market for corporate crypto treasury management,” said Alex Cook, Partner, Tiger Global.
Cook added that Meow has a “vision to build a comprehensive suite of treasury and payment products” along with the right team and background to deliver.
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The fresh capital will go towards hiring more talent for its engineering team as well as in sales and marketing. New product enhancements on tap include a GAAP accounting solution and features of a B2B stablecoin suite, including cross-border payment solutions, per the release.
“With the rise in globalization and the increasing use of web3 infrastructure, businesses are increasingly facing the need to transact in more than their native currency. This shift puts pressure on finance teams to ensure they have the right type of currency in the right account at the right time to conduct business,” said Frank Rotman, founding partner and chief investment officer at QED Investors. “Meow is building tools to address this problem, especially for those companies that need help managing their crypto assets and payments.”