Stackup, a digital asset management platform designed to streamline crypto operations for businesses, has secured $4.2 million in seed funding led by 1kx, with participation from Y Combinator, Goodwater Capital, Soma Capital, Amino Capital, and Digital Currency Group (DCG). The investment is intended to accelerate the development of the Stackup platform and support the introduction of new features, including a direct banking integration.
The $4.2 million funding round will enable Stackup to continue developing solutions aimed at simplifying crypto operations for businesses.
Coinciding with the new capital, Stackup has introduced a direct banking integration feature. This functionality allows businesses to connect their bank accounts directly to their Stackup wallet, facilitating non-custodial ACH transfers between their traditional bank accounts and digital asset wallets within existing payment workflows. This aims to address the operational fragmentation businesses face when managing assets across separate traditional banking systems and crypto platforms. Stackup’s solution seeks to unify financial operations without requiring users to relinquish control of their assets to third parties.
John Rising, co-founder and CEO of Stackup, stated, “Our mission at Stackup is to provide businesses with the tools they need to manage their digital assets with the same level of efficiency and control they expect from traditional financial systems. This funding gives us the ability to eliminate operational inefficiencies that have historically hindered the adoption and growth of this industry. We’re empowering businesses to streamline their financial operations and workflows, allowing them to focus on growth without compromising on security or control of their assets.”
Additionally, Stackup has expanded its support to include multiple blockchains, now covering Ethereum, Base, Arbitrum, Optimism, Polygon, Avalanche, and BSC. This expansion is designed to support businesses operating across various blockchain networks. Previously, companies often managed separate wallets and manually bridged assets between chains, a process that could be time-consuming and prone to errors. With Stackup, businesses can manage multi-chain operations from a single platform, enabling seamless asset movement without external bridges or multiple wallet setups.
Nichanan Kesonpat of 1kx commented, “Crypto businesses have largely struggled to address their operational needs due to the unique burden of managing assets on multiple chains. Stackup is addressing those critical pain points and enabling businesses to take control of their funds in one seamless, secure, and scalable platform.”
Stackup was founded in 2021 and initially focused on building wallet infrastructure for major industry players such as Coinbase and TrustWallet. This experience informed the development of Stackup’s current comprehensive digital asset management platform, which provides businesses with centralized control over their decentralized assets and streamlines complex blockchain tasks.