Unchained Capital Closes $2.995M Seed Funding to Drive the Future of Crypto-Wealth Management

  • Funding will fuel innovation in financial services and wealth
    management for a new class of long-term crypto-investors
  • Lead investors include Michael Komaransky, Brian Spaly, Mike W. Erwin
    and Whurley of Ecliptic Capital, and Ezra Galston of Starting Line
  • $2,400,000 in new capital; $595,000 of SAFE notes converting
  • Announces market release of Ethereum-collateralized loan product

AUSTIN, Texas–(BUSINESS WIRE)–
Unchained Capital, a crypto-finance company that lends cash to long-term
crypto-investors, today announced it has closed a $2,995,000 seed round
of venture capital. The funding will go toward expanding Unchained
Capital’s team and innovating its proprietary financial services and
wealth management offerings.

A number of strategic investors participated in this venture round,
including Michael Komaransky, formerly of Cumberland Mining; Brian
Spaly, prolific angel investor and co-founder of Bonobos and Trunk Club;
Mike W. Erwin and Whurley of Ecliptic Capital; and Ezra Galston of
Starting Line, an early venture investor in the crypto sector. In
addition to making investments in the seed round, Komaransky, Erwin and
Galston will join Unchained Capital’s board.

The new investors combine with a stellar management team to create an
unparalleled, talented group to drive innovation and a premium offering
within the emerging multi-billion dollar crypto-wealth management market.

“Crypto assets are now a nearly $500 billion asset class, but are
functionally invisible to the existing financial system,” said Ezra
Galston, Founder of Starting Line. “Holdings won’t enable consumers to
obtain a mortgage, gain credit or serve as collateral. Unchained is
bridging that gap.”

“Crypto-finance is redefining the concept of the traditional long-term
investment thesis,” said Mike W. Erwin, Founder of Ecliptic Capital,
which provides a metric-driven, transparent investment process through
its partnership with Optimal Symmetry, the Fund’s manager. “Unchained
Capital is building the financial infrastructure for the wealth
management of tomorrow, yet available for savvy crypto investors today.”

Availability of Ethereum-Collateralized Loan Capabilities

Unchained Capital has expanded its lending capabilities by announcing
Ethereum-collateralized (ETH) loans in addition to its previous ability
to lend against Bitcoin (BTC). By accepting ETH and BTC, individuals and
businesses who want both to hold crypto-coins and to access immediate
fiat funds have greater choice.

“Accepting ETH as collateral has been high on our priority list since
the beginning – lots of customers have asked for it,” said Joe Kelly,
CEO, Unchained Capital. “When it comes to accepting new forms of
collateral, our first thoughts go toward security. Unlike other
crypto-lenders out there who utilize exchanges, third parties or
single-signature addresses for collateral storage, we wanted to make
sure we offered the most secure storage solution possible before
releasing our ETH loan product.”

Using an open-source smart contract for the cold storage of collateral
funds, Unchained Capital’s vault requires multiple
signatures and hardware wallets
for maximum security. With a $150,000
bug bounty
running for two months and a complete security audit by Hosho,
a leading blockchain security firm, no other crypto-backed lender offers
a more thorough, comprehensive custody and security solution.

Crypto-collateralized loans have wide-ranging applications: anything
that requires USD can now be purchased with an Ethereum-collateralized
loan. For example, crypto-enthusiasts looking to diversify USD-driven
investments such as real estate can now drive transactions with ETH.
Startups that have completed an ICO can access USD while maintaining
their ETH holdings. Wherever cryptocurrency is locked away, Unchained
Capital aims to free it.

Existing customers can access Unchained Capital’s new capabilities
automatically, no longer having to convert ETH holdings in their
portfolio to BTC to access USD loans. New customers can request an
invite at unchained-capital.com.

About Unchained Capital

Unchained Capital is a new kind of financial services company. We lend
cash to long-term cryptocurrency holders who want to take advantage of
their ownership but don’t want to sell their assets. We believe that
crypto investors should have the opportunity to avail themselves of
proven financial instruments. Today we’re focused on offering Bitcoin
and Ethereum secured $USD cash loans at friendly interest rates, for up
to five years. You shouldn’t have to pay membership fees or buy a new
token to start leveraging your crypto assets as collateral. Unchained
dispenses with these complexities. We offer competitive rates,
unparalleled security, and a clear, transparent path to increased
liquidity without capital gains. Friends don’t let friends sell
cryptocurrency.

This article provided by NewsEdge.