Flint Raises $5.1 Million In Seed Round
The funds will be utilized to bring early users on board, enhance product base and hire for senior positions
With the goal of becoming a one-stop-shop for investors seeking exposure to crypto assets, Bengaluru startup Flint has raised a $5.1 million in Seed round led by Sequoia Capital India and GFC. Coinbase Ventures, Hashed, IOSG, Better Capital and MSA Capital also participated in the round.
The fresh capital will accelerate bringing early users on board, enhance the product based on early feedback and hire for senior positions across engineering, design and product functions. Flint also plans to allocate a significant portion of the funding to strengthen legal and risk functions, ensuring compliance with legal and regulatory norms.
Founded in October 2021, the company currently offers a simple and stable income opportunity where users can earn up to 13 per cent per annum on their deposited funds. Flint doesn’t expose users to volatile crypto assets like Bitcoin or Ethereum. It only deals with stable cryptocurrencies like USDT, USDC, etc., that are free from crypto price fluctuations.
“Flint’s mission is to make cryptocurrencies easy and accessible to everyone. As a brand, we simply intend to demystify crypto, provide easy-to-use products and introduce a billion people to our inevitable future. We also want to thank all our investors for placing their trust in us, our mission, and for joining hands with an aim to make Flint the first-choice crypto app across the globe, where users can earn high and stable yields on their crypto assets via plenty of investment opportunities,” said Anshu Agrawal, co-founder of Flint.
“We believe the Flint team brings the right background in building consumer products,” said Aakash Kapoor, VP, Sequoia India.
Flint is a global crypto investment app, which brings together passive income generating opportunities in the crypto market. Flint is ideal for investors looking to get crypto exposure but do not have enough time to do active buying/selling of tokens.