During the funding round, SIG, Dragonfly, and GSR led a $4 million infusion of working capital, thereby increasing the company’s valuation to $40 million.
The infusion of new capital into the firm will allow Cabital to develop its patented digital wealth management platform further while extending its reach across Europe.
The platform’s expansion goals will be aided by the addition of seasoned industry professionals to its team.
Cabital creates and develops cutting-edge crypto-wealth management tools to empower individuals by earning passive income using cryptocurrency.
Cabital Earn, the company’s primary wealth management tool, provides customers with up to 12% APY in the form of daily accruing interest, which is fuelled by an 80 percent portion of its investment revenue.
It also offers free bank deposits in euros and a clear investment tracking and management interface.
Cabital will soon add SEPA to its range of payment options, allowing for smooth conversions from euros to cryptocurrency and vice versa.
By doing so, the platform essentially eliminates minimum and maximum deposit limitations while still allowing users to make deposits and withdrawals in any of the accepted cryptocurrencies or fiat currencies.