# CypherD Wallet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cypherd-wallet

- Industry: Financial Services
- Headquarters: Newark, US
- Website: www.cypherd.io
- Total disclosed funding: $4.3M
- Latest round: Seed (Jun 1, 2022)
- Investors on record: 5

## About

Founded in 2021 by Kuberan Marimuthu, Founder and CEO, CypherD Wallet Inc, dba Cypher, is headquartered in Bellevue, US. The company focuses on simplifying cryptocurrency usage for individuals and businesses. CypherD Wallet Inc specializes in integrating cryptocurrency capabilities into everyday financial transactions, offering innovative solutions like the Cypher Card for seamless crypto-to-fiat conversions. Users can manage and stake their assets across 18+ blockchain networks, including Ethereum, Tron, and Cosmos, enhancing the usability of their digital assets in real-world scenarios. Additionally, Cypher supports businesses by enabling them to manage corporate expenses directly through integrations with platforms like QuickBooks and Xero, ensuring streamlined expense management tailored for Web3 teams and decentralized autonomous organizations (DAOs). Geographically, Cypher targets markets with a burgeoning interest in cryptocurrency usage, including North America, Europe, and parts of Asia, positioning its offerings to serve both individual consumers and businesses engaged in digital asset management. Cypher's revenue model is primarily driven through transaction fees associated with the loading and spending of the Cypher Card. When clients load their cards with supported tokens, a fee may be incurred, thus generating revenue for the company. Furthermore, businesses utilizing Cypher for expense management can engage in B2B transactions where fees may apply for integrations with financial software like QuickBooks and Xero. Cypher may also explore subscription services for premium features or increased transaction capabilities. Each of these services is designed to provide value to both individual users and corporate clients, fostering a diverse client base that spans from everyday consumers to industry leaders seeking robust crypto banking solutions. Cypher plans to expand its product offerings and enter new markets, specifically targeting further growth in North America, Europe, and Asia in the coming years

## Funding rounds

- Seed, Jun 1, 2022, $4.3M — Y Combinator, Goodwater Capital, Samsung NEXT Ventures, Tribe Capital, Orange DAO

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Goodwater Capital (https://capitalatlas.ai/funds/goodwater-capital) — Seed
- Samsung NEXT Ventures (https://capitalatlas.ai/funds/samsung-next-ventures) — Seed
- Tribe Capital (https://capitalatlas.ai/funds/tribe-capital) — Seed
- Orange DAO — Seed