A former Coinbase employee raised $30 million in Series B funding for the crypto infrastructure startup Turnkey
According to a report by Fortune magazine on June 9th, Turnkey, a Crypto wallet infrastructure company founded by former Coinbase employees, has completed a $30 million Series B financing round led by Bain Capital Crypto. Lightspeed Faction and Galaxy Ventures are also involved.
Turnkey was founded in 2022. Its founders are Bryce Ferguson and Jack Kearney, both of whom used to work at Coinbase. The company mainly helps developers build more user-friendly wallet products through application programming interfaces (apis). Its existing clients include well-known crypto industry companies such as Polymarket, Magic Eden and Bridge. Previously, Turnkey completed A $15 million Series A financing round in April 2024.
This round of financing will be used to expand the engineering team. Currently, the company has approximately 35 employees. The successful financing of Turnkey demonstrates that the field of crypto infrastructure still holds strong appeal and development potential.
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