A16z Leads $9M Raise for Solana’s Phantom Wallet to Go Multi-Chain

A16z Leads $9M Raise for Solana’s Phantom Wallet to Go Multi-Chain

Solana-based digital wallet Phantom has raised $9 million in a Series A funding found led by Andreessen Horowitz (a16z).

Other participating investors included Variant Fund, Jump Capital, DeFi Alliance, the Solana Foundation and Coinbase investor Garry Tan.

The funding will be used to expand the Phantom team, develop new platform features and expand to other blockchains, said the firm.

Phantom was founded by Brandon Millman, Chris Kalani and Francesco Agosti. Since its beta launch in April 2021 Phantom has added 40,000 users and secured $500,000 in grants from Serum and Solana.

“With the world moving into a multi-chain future, the strong interest from the participants in our beta group indicates that our team has designed a DeFi wallet for the masses, one that’s in a unique position to provide value to users unlike any other related product on the market,” said Millman.

Most recently Phantom integrated with FTX Pay, which allows users to transfer SOL, USDC and USDT directly from FTX.

Other notable investors in the latest $9 million funding round include Compound, dYdX, Audius, Lolli and the Ethereum Foundation.

Source

Subscribe to get our top stories