Casa, a Bitcoin self-custody solutions provider, raises $21 million in a series A funding. The round led by Acrew Capital, a San Francisco-based venture capital firm which has invested in popular crypto projects like Coinbase and BlockFi.
The Series A funding round also attracted participation from Positive Sum Ventures, Naval Ravikant, Scott Belsky, Avon Ventures, Stillmark, Tioga Capital, Castle Island Ventures and Lerer Hippeau.
Casa has raised a total of $27.1M in funding over 5 rounds. Casa raised $4 million in seed funding in February.
What Casa Does?
Casa provides a secure Bitcoin self-custody service, with both free and paid solutions ranging from $120-$5,000 per year.
The Bitcoin self-custody app positions itself as a competitor to centralized crypto exchanges such as Coinbase, which custodies Bitcoin and other cryptocurrency on behalf of its users. When users interact with centralized Bitcoin exchanges like Coinbase, the custody of their assets are completely surrendered to the exchanges, meaning users lose control of their assets.
Casa co-founder and CEO Nick Neuman, commented:
“That’s why we created Casa API, which makes it easy for trusted organizations to start integrating with Casa customers’ wallets – all while the customer continues to hold the keys,” said Neuman.
According to the announcement, the company will use the new funds to further develop its security-focused Bitcoin products and services.
Casa Launches API For Third-Party Integrations
The announcement of the latest funding round coincides with the launch of a new API. The API will allow third-party services to interact with Casa wallets while users maintain full control of their private keys.
“Our investors will play a crucial role in driving the global self-sovereignty revolution in the years to come, ensuring we continue to drive the industry forward by delivering new solutions — like Casa API — that add to the richness, utility and, above all, security of Bitcoin,” said Nick.
The API will allow developers of third-party organizations to integrate with Casa wallets while allowing users to maintain full control over their private keys. Users will be able to confirm financial information for situations including taking out loans, managing retirement investments and automatically depositing bitcoin to their Casa self-custody setup.
Nick points out that Bitcoin and traditional financial services have a shared destiny: they are increasingly converging. “we’re seeing hugely increased demand for solutions that tie the two ecosystems together,” Nick said.
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