“Access to crypto yield is just the beginning. We come for everything. We are committed to making Meow the one-stop-shop for corporate finance.
Meow has closed a $22 million Series A funding aimed at fueling the expansion of its compliant crypto yield offering for corporate treasuries.
The round was led by Tiger Global, with participation from leading cryptocurrency exchange FTX QED Investors, and others, and will be used to support the company’s rapid growth with new hires and features. improved product.
Meow plans to use the funds to hire across its marketing, sales, and engineering teams, as well as focus on developing several new product enhancements. In the coming months, it will launch a GAAP accounting solution and begin rolling out features for a suite of B2B stablecoins, including cross-border payment solutions.
The startup was launched in early 2022 following seed funding from cryptocurrency industry leaders and investors, including Coinbase Ventures, Gemini Frontier Fund, and Lux Capital.
Aimed at institutional and corporate investors, Meow offers a compliance-focused approach to participating in emerging cryptocurrency investment opportunities and has been quickly adopted by corporate treasury departments.
In less than six months, Meow grew the company’s assets under management to nearly $100 million thanks to the rapid adoption of high-yield, short-term investment opportunities by a range of companies.
Brandon Arvanaghi, co-founder and CEO of Meow, said, “No one believed us when we said companies would want to participate in crypto markets. Access to crypto yield is just the beginning. We come for everything. We are committed to making Meow the one stop shop for corporate finance.
Alex Cook, Partner at Tiger Global, commented: “Meow’s prioritization of risk and compliance management fills a gap in the enterprise cash management market. We’re excited about the vision to build a full suite of treasury and payment products, and the team has the right set of experiences to deliver on the roadmap.
Frank Rotman, Founding Partner and Chief Investment Officer at QED Investors, added: “With the rise of globalization and the increasing use of web3 infrastructure, companies are increasingly faced with the need to transact in more than their home currency. This change puts pressure on finance teams to ensure they have the right type of currency in the right account at the right time to do business. Meow develops tools to solve this problem, especially for companies that need help managing their crypto-assets and payments.