Beluga, a crypto platform focused on assisting and guiding new users in their crypto journey, has raised $4 million in a seed funding round. The round was led by Fin Capital and included participation from notable investors such as Anagram, UDHC, Dispersion Capital, and others.
Beluga aims to address the lack of confidence in crypto among many individuals, with 71% of men and 80% of women in the U.S. expressing such concerns, as reported by Pew Research. The platform offers a suite of crypto tools designed to help users navigate the complex cryptocurrency ecosystem.
Sonny Singh, Co-founder of Beluga and former Chief Commercial Officer of BitPay, emphasized the platform’s role in guiding users through the dynamic world of crypto.
It helps users identify the right products in various crypto areas, including DeFi, NFTs, web3 games, staking, and financial products.
“We want to make it easy for everybody to come to Beluga to learn, find and use the right crypto products,” Sonny Singh added.
Despite the challenges in the crypto space, it remains a preferred option for many millennials over traditional investments like stocks and mutual funds.
Beluga has attracted notable angel investors, including Charlie Lee, the Founder of Litecoin, and Mike Lempres, the former Chief Risk and Legal Officer of Coinbase.
The platform’s goal is to provide trust and transparency in the digital assets industry, catering to both institutional and retail users. Beluga is designed to be user-friendly, focusing on everyday crypto users rather than just power users commonly targeted by other crypto products.
In the future, Beluga plans to introduce more tools to facilitate the onboarding of new users and assist them in discovering and using the most suitable crypto products.
The management team behind Beluga comprises experienced individuals with backgrounds in Silicon Valley and crypto, having previously worked at companies such as Robinhood Crypto, dYdX, CoinDesk, and Coupa Software.