# Qredo Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/qredo-services

- Industry: Software
- Headquarters: Tortola, British Virgin Islands
- Website: www.qredo.com/
- Total disclosed funding: $92M
- Latest round: Series A (Feb 28, 2022)
- Investors on record: 41

## About

Founded in 2018 by Anthony Foy and Brian Spector and based in Tortola, British Virgin Islands, Qredo Services Limited operates as a developer of IT infrastructure that offers a decentralized digital asset custody model that helps prevent private key theft and ensure security for digital assets held in custody. In February 2024, Fusion Labs acquired Qredo Services Limited from 10T, Kingsway Capital, Coinbase Ventures, Ava Labs, Terraform Labs, GoldenTree Asset Management, HOF Capital, GMF Capital, Rovida Kruptos Assets Limited, Vectr Fintech, Kestrel 0x1, Nural Capital First Light (US) LP, Raptor Group, Alumni Ventures Blockchain Fund, Liberty City Ventures, SVK Crypto, Kenetic Capital, and Tokentus Investment AG. As of 2024, the company is led by its CEO, Duncan Payne-Shelley.

The company offers a platform with tools including multi-party computation (MPC), a method of encryption that works with a threshold signature scheme (TSS) to help decentralize private keys. The firm's platform offers a range of products for both individuals and institutions, such as vaults that help secure digital asset storage with multi-layered security features and governance, which offers tools for managing rules and permissions for digital asset investments.

Qredo also offers Web3 wallets, which focus on integration with Web3 wallets like MetaMask and WalletConnect, enabling access to dApps while maintaining custody through Qredo's dMPC technology; ClearVault, a solution for facilitating trading directly from self-custody; and a Web3 API, which supplies developers with a set of tools to incorporate Qredo's features into their own applications. The company’s partners include Sweat Economy, ConsenSys Mesh, and FBG Capital.

## Funding rounds

- Series A, Feb 28, 2022, $80M — Kestrel Capital, GoldenTree Asset Management, Raptor Capital Management, Liberty City Ventures, Alumni Ventures Group, Vectr Ventures, HOF Capital, Kenetic Capital, Coinbase Ventures, Kingsway Capital, Terraform Labs Pte. Ltd., GMF Capital, SVK Crypto, Ava Labs, Inc., 50T, Tokentus Investment, Avalanche, Rovida Kruptos Assets, Nural Capital First Light
- Seed, Feb 26, 2021, $11M — The Spartan Group, Jackdaw Capital, Snap Inc., Kenetic Capital, Borderless Capital, Connect Capital, Celsius Network LLC, Maven11 Capital, SVK Crypto, Amnis Ventures Inc., G1 Venture Capital, Wintermute Trading Ltd, CMS Holdings, LLC, 3Commas Technologies OU, Gumi Cryptos Capital, GSR Capital, 1kx Management, SuperChain Capital, Quantstamp, Inc., Deribit, Kronos Ventures, Sahra Growth Capital, Tokentus Investment, Q-Stone Partners, Artus

## Investors

- The Spartan Group — Seed
- Jackdaw Capital — Seed
- Snap Inc. — Seed
- Kenetic Capital (https://capitalatlas.ai/funds/kenetic-capital) — Seed, Series A
- Borderless Capital (https://capitalatlas.ai/funds/borderless-capital) — Seed
- Connect Capital (https://capitalatlas.ai/funds/connect-capital) — Seed
- Celsius Network LLC — Seed
- Maven11 Capital (https://capitalatlas.ai/funds/maven11-capital) — Seed
- SVK Crypto (https://capitalatlas.ai/funds/svk-crypto) — Seed, Series A
- Amnis Ventures Inc. (https://capitalatlas.ai/funds/amnis-ventures-inc) — Seed
- G1 Venture Capital (https://capitalatlas.ai/funds/g1-venture-capital) — Seed
- Wintermute Trading Ltd — Seed
- CMS Holdings, LLC (https://capitalatlas.ai/funds/cms-holdings-llc) — Seed
- 3Commas Technologies OU — Seed
- Gumi Cryptos Capital (https://capitalatlas.ai/funds/gumi-cryptos-capital) — Seed
- GSR Capital (https://capitalatlas.ai/funds/gsr-capital) — Seed
- 1kx Management — Seed
- SuperChain Capital (https://capitalatlas.ai/funds/superchain-capital) — Seed
- Quantstamp, Inc. — Seed
- Deribit — Seed
- Kronos Ventures (https://capitalatlas.ai/funds/kronos-ventures) — Seed
- Sahra Growth Capital (https://capitalatlas.ai/funds/sahra-growth-capital) — Seed
- Tokentus Investment (https://capitalatlas.ai/funds/tokentus-investment) — Seed, Series A
- Q-Stone Partners (https://capitalatlas.ai/funds/q-stone-partners) — Seed
- Artus — Seed
- Kestrel Capital (https://capitalatlas.ai/funds/kestrel-capital) — Series A
- GoldenTree Asset Management (https://capitalatlas.ai/funds/goldentree-asset-management) — Series A
- Raptor Capital Management (https://capitalatlas.ai/funds/raptor-capital-management) — Series A
- Liberty City Ventures (https://capitalatlas.ai/funds/liberty-city-ventures) — Series A
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series A
- Vectr Ventures (https://capitalatlas.ai/funds/vectr-ventures) — Series A
- HOF Capital (https://capitalatlas.ai/funds/hof-capital) — Series A
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series A
- Kingsway Capital (https://capitalatlas.ai/funds/kingsway-capital) — Series A
- Terraform Labs Pte. Ltd. — Series A
- GMF Capital — Series A
- Ava Labs, Inc. — Series A
- 50T (https://capitalatlas.ai/funds/50t) — Series A
- Avalanche (https://capitalatlas.ai/funds/avalanche) — Series A
- Rovida Kruptos Assets — Series A
- Nural Capital First Light — Series A