NEW YORK--(BUSINESS WIRE)--Meow, the compliant crypto yield offering for corporate treasuries, today announced it has closed on $22 million in Series A financing. The round was led by Tiger Global, with participation from QED Investors, leading cryptocurrency exchange FTX, and others, and will be used to support the company’s rapid growth with new hires and enhanced product features.
Meow provides institutional and corporate investors with a compliant-first approach to participating in emerging cryptocurrency investment opportunities. Since launching in early 2022 following seed financing from cryptocurrency industry leaders and investors, including Coinbase Ventures, Gemini Frontier Fund and Lux Capital, Meow’s offering has quickly been embraced by corporate treasury departments. In less than six months, Meow grew corporate assets under management to nearly $100 million due to rapid adoption of the cash-in-cash-out, short-term high-yield investing opportunities by a range of companies.
“Nobody believed us when we said corporations would want to participate in crypto markets,” said Brandon Arvanaghi, Co-Founder and CEO of Meow. “Access to crypto yield is just the beginning. We’re coming for it all. We’re committed to making Meow the one-stop shop for corporate finance.”
In addition to hiring across its marketing and sales and engineering teams, Meow has several new product enhancements under development. In the coming months, it will launch a GAAP accounting solution and begin rolling out features of a B2B stablecoin suite, including cross-border payment solutions.
“Meow’s prioritization of risk management and compliance is filling a gap in the market for corporate crypto treasury management,” said Alex Cook, Partner, Tiger Global. “We are excited by the vision to build a comprehensive suite of treasury and payment products, and the team has the right set of experiences to deliver on the roadmap.”
“With the rise in globalization and the increasing use of web3 infrastructure, businesses are increasingly facing the need to transact in more than their native currency. This shift puts pressure on finance teams to ensure they have the right type of currency in the right account at the right time to conduct business,” said Frank Rotman, Founding Partner and Chief Investment Officer at QED Investors. “Meow is building tools to address this problem, especially for those companies that need help managing their crypto assets and payments.”
Meow is the compliant bridge for institutional and corporate investors to participate in emerging cryptocurrency investment opportunities. Founded by a team of veteran cryptocurrency and former-Gemini engineers, Meow delivers modern, compliant investing for corporate treasuries that may offer some protection from the risks of inflation and offer crypto-sourced yields. Please visit our website at www.meow.co or follow us at twitter.com/JoinMeow
About Tiger Global
Tiger Global is an investment firm focused on private and public companies in the internet, software, and financial technology sectors. Since 2003, Tiger Global’s venture business has invested in hundreds of companies ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global’s investments have included Stripe, Shein, Bytedance, Meta (formerly Facebook), LinkedIn, Spotify, Flipkart, and Toast. https://www.tigerglobal.com/
About QED Investors
QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners’ decades of entrepreneurial and operational experience, helping its companies achieve breakthrough growth. Notable investments include AvidXchange, Bitso, ClearScore, Current, Creditas, Credit Karma, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly and SoFi.