Soho-based smart crypto-wallet raises £9.2m

David Prior's picture

Soho-based Argent, which bills itself as one of the world's first smart crypto-wallets, has raised £9.2m in funding.

Argent helps people to manage and protect their digital assets and identities using a number of innovative blockchain-based security features, including a guardian system via which users can appoint a trusted second person to verify transactions.

Investors in the round include Sequoia Capital's crypto fund Paradigm, in what is its first investment in Europe.

As part of the fundraising, it has begun banking with Lloyds Bank Commercial Banking to help its first significant round of venture capital financing (Series A) investors to transfer their investments safely and quickly.

The company, which has a 17-strong remote team that works internationally, was founded by Gerald Goldstein, Itamar Lesuisse and Julien Niset.

It has now raised a total of £12.3m having raised £3.1m in November 2018 from the likes of Creandum and Firstminute Capital.

Itamar LeSuisse, CEO and co-founder of Argent, said: “We’ve built the first smart crypto wallet with the simplicity and security of the best new bank apps, yet we never hold users’ assets. It takes the complexity out of cryptocurrency and is driven by our dedication to user experience.

“Securing funding as a start-up that works in cryptocurrency meant we needed to find a banking partner that understood our unique needs. Lloyds Bank provided this, and the move helped us with a smooth fundraising process that in turn helped fuel our public launch and secure backing from some of the world’s best venture capital groups including the backers of Spotify and Slack. It’s a crucial step in our mission to give people more control over their digital lives.”