Utila Secures $18 Million in Series A Funding for Wallet Solutions
Utila has raised $18 million in a Series A funding round led by Nyca Partners, with contributions from Wing VC, NFX, Haymaker Ventures, Gaingels, and Cerca Partners. This brings total funding to approximately $30 million since the company launched last year.
Key points:
- Institutional demand for digital asset management is increasing.
- Utila's MPC wallet solutions address security concerns highlighted by recent crypto incidents.
- The platform utilizes multiparty computation (MPC) technology to enhance security.
- Utila has processed $8 billion in monthly transactions, up from $3 billion earlier this year.
- Funding will support global expansion and product enhancements, including gas management and smart contract support.