Pillow Raises $18M in Series A Funding Round Pillow platform is a community of more than 75,000 users in over 60 countries
By Saptak Bardhan •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Pillow, on Thursday announced to have raised $18 million in Series A funding co-led by Accel, Quona Capital, Elevation Capital and Jump Capital. Elevation Capital were also the first seed investors in Pillow, having led the round in 2021.
"At Pillow, we aspire to create and reward a culture of disciplined personal finance, including savings and investments powered by access to digital assets, that enable young, hardworking, ambitious people to take control of their finances, achieve life goals and work towards financial freedom. We're creating a suite of high-quality, secure, and transparent financial products that will grant our users access to global economic opportunities and let them take control of their financial future," said Arindam Roy, co-founder and CEO, Pillow.
Digital assets and decentralised finance are opening up access to global economies across the world by operating on borderless systems without relying on centralised entities. The challenge is in making it simple and user-friendly enough for mass adoption. Arindam, Rajath, and Kartik's mission is to create a safe, accessible, borderless crypto investment platform and make digital assets accessible to everyone globally.
"The lack of intuitive, user friendly platforms is a big impediment to large-scale adoption of digital assets as an investment class, and Pillow is doing a phenomenal job in bridging this gap. The growth they've been able to achieve since inception is testament to the quality and seamlessness of the solution," said Vaas ABhaskar, principal, Elevation Capital.
Founded in 2021 by Arindam Roy, Rajath KM, and Kartik Mishra, the Pillow platform is a community of more than 75,000 users in over 60 countries who are taking control of their financial lives by saving and investing using digital assets. Within the Pillow app, users can invest and save in US Dollar-backed stablecoins, as well as multiple blue-chip cryptocurrencies including Bitcoin, Ethereum and others. Since the beginning of 2022, the company has grown its user base by 300 per cent, with assets under management having grown five times. In addition, the company has expanded into Nigeria, Ghana, and Vietnam, among other emerging markets.
