# Galoy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/galoy

- Industry: Software
- Headquarters: Mountain View, US
- Website: www.galoy.io
- Total disclosed funding: $3M
- Latest round: Seed (Dec 15, 2021)
- Investors on record: 4

## About

Galoy Inc is a technology company specializing in banking software solutions for the Bitcoin ecosystem, offering innovative products like custodial wallets and bitcoin-backed lending solutions to enhance digital finance accessibility.Founded in 2019 by Nicolas Burtey, Galoy Inc is based in Mountain View, US. The company focuses on developing banking solutions tailored for Bitcoin. In August 2022, Galoy raised USD 4.000 mn in a funding round led by Hivemind Ventures, with participation from multiple investors including AlphaPoint Corporation and Valor Equity Partners. The total amount raised by the company is USD 4.000 mn from two deals.Galoy offers a suite of banking software solutions designed specifically for the Bitcoin ecosystem, catering to the rising demand for bitcoin-backed lending products. Their flagship product, Blink, is a custodial Bitcoin and Lightning wallet that was initially launched in 2020 as the 'Bitcoin Beach Wallet.' Blink has established itself as a preferred solution for communities and individuals engaging in everyday Bitcoin transactions, providing a secure, accessible, and reliable platform for managing digital assets. Additionally, Galoy has introduced Lana, a platform for launching bitcoin-backed loan products, strategically targeting financial institutions looking to enhance their service offerings with innovative lending options. These products primarily serve markets in North America, Europe, and select regions in Asia, facilitating access to digital financial services for a diverse client base that includes banks, fintech companies, and end-users utilizing Bitcoin for daily payments.Galoy generates revenue through business partnerships and transactions involving its banking software products. The company structures its offerings primarily as B2B solutions, allowing financial institutions to integrate Galoy's technology into their existing infrastructures. By leveraging products like Blink and Lana, clients can facilitate transactions such as bitcoin deposits and loans, enhancing their service capabilities without extensive internal development. The pricing structure for these services is tailored to the needs of enterprise clients, ensuring that organizations can implement Galoy's solutions in a way that aligns with their operational models. Through these transactions, Galoy not only provides technology but also drives the adoption of Bitcoin and digital assets in traditional banking environments.Galoy plans to utilize the recent funding of USD 4.000 mn to support the continued development of its GaloyMoney bitcoin banking platform. The company is focused on expanding its product offerings, particularly around bitcoin-backed lending solutions. Additionally, Galoy aims to penetrate new markets in Europe and Asia by the end of 2023, enhancing accessibility to their services and increasing partnerships with financial institutions. Recent developments showcase a strategic path toward integrating more functionalities and optimizing user experiences on their existing platforms.

## Funding rounds

- Seed, Dec 15, 2021, $3M — Trammell Venture Partners, Craft Ventures, Kingsway Capital, Fulgur Ventures

## Investors

- Trammell Venture Partners (https://capitalatlas.ai/funds/trammell-venture-partners) — Seed
- Craft Ventures (https://capitalatlas.ai/funds/craft-ventures) — Seed
- Kingsway Capital (https://capitalatlas.ai/funds/kingsway-capital) — Seed
- Fulgur Ventures (https://capitalatlas.ai/funds/fulgur-ventures) — Seed