Israel-based Utila, an enterprise-grade crypto operations platform announced $11.5M in seed funding from NFX, Wing VC, Framework Ventures, and other leading web3 and fintech VC funds and prolific angel investors including Balaji Srinivasan, Charlie Songhurst and Surojit Chatterjee.
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Startup allows institutions and developers to manage their digital assets with its non-custodial, secure, and chain-agnostic wallet. Utila’s platform is already used by dozens of leading institutional investors and crypto-native firms to store and transact billions of dollars.
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Other investors include Fansanara Digital Ventures, North Island Ventures, Republic Capital, Liquid2, Inspired Capital, Lyrik Ventures, DCG Expeditions, Launchpad Capital, Shima Capita, K5 Global, Big Brain Holdings, Impatient, and leading angel investors from a16z, Coinbase, and other organizations. This funding round empowers to: Accelerate product development, Expand global reach and Build a world-class team
“Switching to Utila from traditional custodial trust companies was a pivotal moment for 1Konto, addressing key challenges with an innovative and efficient solution. Our experience with Utila has been transformative; their platform’s seamless integration into our daily operations has not only been straightforward but also a delight, thanks to their intuitive UI/UX that significantly reduces the learning curve and allows for quicker settlements with clients. The integration process via API for round-the-clock fund flows further enhances our settlement speeds, streamlining operations like never before. Utila’s commitment to fast delivery of product improvements and a customer-centric approach, where feedback loops directly influence feature development, has added immense value to our operations. We’re excited about the potential this partnership unlocks for us as we move towards a more integrated, efficient future in financial services.” said Edwin Handschuh, Co-founder and CEO of 1konto, one of the many customers of Utila.
“Utila is more than just a crypto wallet; it’s a comprehensive ecosystem that addresses the current challenges in the crypto asset management space,” stated Bentzi Rabi, Co-founder & CEO of Utila. “We are setting a new standard for institutional cryptocurrency wallets, delivering a sophisticated yet user-friendly platform that ensures the highest level of security and efficiency for managing digital assets.”
About Utila
Founded in 2022 by Bentzi Rabi and Sam Eiderman, Utila is an enterprise-grade crypto operations platform enabling organizations of all sizes to manage their digital assets securely. It simplify digital asset management and day-to-day crypto operations for institutions without compromising security or usability. It offer a secure, non-custodial, chain-agnostic, enterprise-grade wallet platform powered by MPC key management for ultimate security and a robust transaction policy engine for granular control.
