Rainbow crypto wallet has raised investments of $18 million
The company has successfully closed a Series A funding round
17.02.2022 - 09:55
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What’s new? According to the Block portal, the developer of the Rainbow wallet has managed to complete a Series A funding round and raise $18 million from major companies and funds, including Reddit co-founder Alexis Ohanian’s Seven Seven Six.
News source on the Block website
Who was involved? In addition to Seven Seven Six, which led the round, Bloom Investment Holdings, Thirty Five Ventures, Y Combinator, Hyperguap, and Uncommon Projects Capital participated in the funding.
What will the funds be used for? The Rainbow team will use the amount of $18 million to develop and refine its Ethereum wallet. Using the mobile application, the users can exchange tokens, buy cryptocurrencies and work with decentralized Ethereum-based applications.
Rainbow’s immediate goals include improving the cryptocurrency wallet’s design and simplifying user functionality for a better user experience.
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