Bitcoin Security Firm Casa Nets $4 Million in Seed Funding
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Casa, a Bitcoin security startup focused on multi-signature, self-custody solutions, today announced that it has raised $4 million in seed funding. The round was led by Avon Ventures, a fund affiliated with Fidelity Investments parent company FMR LLC.
According to a release, Casa plans to use the funding to expand its team and continue developing its product portfolio, which includes its free-to-use Casa Wallet self-custody Bitcoin app as well as more advanced security services for paying customers. The self-custody app positions itself as something of a competitor to centralized crypto exchanges such as Coinbase, which custodies crypto on behalf of its users.
The round also included first-time investors Tioga Capital, Coinbase Ventures, Cadenza Ventures, and Champion Hill Ventures. Returning investors that “participated heavily” in the round, per a release, include Lerer Hippeau, Castle Island Ventures, Compound VC, and Precursor Venture.
Casa’s security solution was spearheaded by outspoken Bitcoin maximalist Jameson Lopp, and the company offers multiple paid security plans that range between $10 and $420 per month. Meanwhile, the free Casa Wallet service allows users to purchase Bitcoin directly from the app and secure small amounts using the same technology as its paid service.
The company, founded in 2016, also launched a Bitcoin inheritance product last year called Casa Covenant, and partnered with the Human Rights Foundation to help activists secure their Bitcoin holdings.
