Today Bitcoin custodian provider Casa announced it has raised $ 4 million in seed capital.
The seed round is led by Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments, and includes an initial investment in Tioga Capital’s Casa, Cadenza Ventures (BitMEX’s venture capital arm), Coinbase Ventures and Champion Hill Ventures, ”a release shared with Bitcoin Magazine. “Existing investors also participated heavily, including Lerer Hippeau, Castle Island Ventures, Compound VC and Precursor Ventures.”
The company offers multi-signature bitcoin custody and offers subscription-based security plans that can also include emergency support, hardware wallet replacement, wealth planning, and more. This latest fundraiser follows a 2020 in which Casa one in-wallet purchase service which allows users to opt out of exchanges when they buy BTC, a free wallet with emphasis on new usability and a bitcoin inheritance program called Casa Covenant.
Meanwhile in 2020, Avon Ventures invested in other industrial projects including BlockFi, Coin Metrics and FalconX.
“Casa has built a product that combines best-in-class security with an intuitive user experience,” Sachin Patodia, a partner at Avon Ventures, said in the release. “Bitcoin owners no longer have to choose between simplicity and security for their bitcoin – Casa offers both.”
According to the release, Casa will spend the money on strategic hiring, development of its product suite and growth of its user base.
“Sachin and the Avon team have thought deeply about the possibility of Bitcoin retention and personal key management, and I am incredibly excited to partner with them on the next chapter of Casa’s growth,” said Nick Neuman, Casa CEO, per the release.