Enterprise Wallet Management Company Cashmere Closes $3 Million Seed Funding Round with Coinbase Ventures and Others

Cashmere, a company that offers enterprise wallet management for users of the Solana blockchain, closed a $3 million seed funding round Monday that valued the firm at $30 million. Investors in the round included crypto venture-capital firms Coinbase Ventures and FBG Capital, as well as startup incubator YCombinator. The funds raised will be used to hire more engineers and launch a premium product for institutions later this year. Cashmere aims to help companies store their crypto assets securely and allows firms to use multi-signature signing to jointly control their company wallets to remove single points of failure for more secure self-custody.