Treasury management and Infrastructure platform, Coinshift secured $15M Series A Funding

Coinshift, a Sheridan-based treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves has now secured $15 million in a Series A funding round.

Coinshift was founded by Tarun Gupta. It is a treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, overall risk, and general financing.

Coinshift is built on the Gnosis Safe, which allows customers to utilize its core pay-out features to manage payments, engage in a collaborative multi-signature transaction, and save around 90% on gas fees.

Coinshift Founder and Chief Executive Officer Tarun Gupta said, "Today, a new chapter of the Coinshift journey begins. We are unveiling a glimpse into our platform's second version, through which we share our vision to build the most sophisticated multichain treasury infrastructure for Web3. The fact our investors have returned to participate in a Series A funding round is a testimony to the quality of our platform and the timely solution we offer to fill the current needs in the market."

Shailesh Lakhani, MD, Sequoia India, said, "Tarun and the team are building heads down at Coinshift. They have made wonderful progress since Sequoia Capital India participated in their seed funding last year. This round will enable them to build a wider set of offerings for treasury management, and Sequoia Capital India is thrilled to deepen the commitment to Coinshift".

The round was backed by Tiger Global and joined by Sequoia Capital India, Ethereal Ventures, Alameda Ventures, Spartan Group, Hash key Capital, Alpha Wave capital, Polygon Studios, Quiet Capital and Volt Capital, and some other angel investors.

The company, as of now, has plans to use the new funds for building its treasury management solution.