Crypto wallet company Math raises $12 million in Series B funding. Binance Labs, the incubation and seed funding arm of the world’s largest crypto exchange, led the Series B funding round for MATH, the blockchain firm behind MathWallet. The round was led by Binance Labs, with support from Amber Group, NGC Ventures, and Capital6 Eagle. With fresh capital at assistance, MATH, the organization behind the expansion of MathWallet, seems to develop its products and services and buttress the extension of Binance’s native blockchain Binance Smart Chain (BSC).
MathWallet will employ the recent fund injection to expand the startup’s operations. It involves doubling its headcount along with the upskilling of software engineers and other business roles. Additionally, MathWallet intends to launch more decentralized ecosystems. Thus, connecting Solana, Serum, and Math Global with its signature product, collectively with various significant blockchains.
MathWallet claims to harbor 1 million users.
MathWallet is a multi-crypto wallet platform that extends its support to over 60 public blockchains and enables storage of Bitcoin and major altcoins such as Ethereum, EOS, Tron, and more. Moreover, it claims to possess more than 1 million users. Additionally, it highlights cross-chain token exchanges, a multi-chain DApp store, and manages nodes for the PoS chain. The company declares successful operation from the commencement of 2020. Earlier, it raised seed capital from previous rounds of funding. It involved active participation from Fenbushi Capital and Fundamental Labs.
Moreover, MathWallet secured $7.8 million in Series A+ financing round in November. It was led by Alameda Research, which impersonates to control above $100 million in digital assets and trade $600 million to $1.5 billion per day. Moreover, the new investment witnessed support from well-known industry leaders. It involves Texas-based crypto fund Multicoin Capital. Moreover, Binance Labs, an initial supporter of the Elrond project, has previously led a $3.25 million funding round collectively with Electric Capital and NGC Ventures. However, Elrond (ERD) gained popularity after its Binance hook-up, wherein the DEX ignited excitement amongst crypto traders.
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