Paris, France-based the leading enterprise-grade staking technology provider, Kiln raised EUR 17 million in recent funding. The company announced the Series A fund raise on November 28, 2022. Illuminate Financial led the financing for the firm. Meanwhile, Consensys, GSR, Kraken Ventures, Leadblock Partners, Sparkle Ventures, and XBTO joined in the investment. Besides, existing investors 3KVC, Blue Yard Capital, SV Angel and Alven among others participated in the round.
Purpose of financing for Kiln
With the latest financing from Series A, Kiln aims to expand its market-leading staking infrastructure product range.
In addition, the company seeks to add new features to it’s industry leading product range.
What the founder has to say
Laszlo Szabo, Co-Founder & CEO at Kiln, said, “I am thrilled to close a robust funding round with such respected investors in the crypto space. It will enable us to build out the next generation market standard in staking technology. At Kiln, we believe it is critical to provide enterprise-grade infrastructure to institutional users, that in turn enables our customers to create new opportunities for their users. We thank our existing and new investors for their partnership. The Kiln team couldn’t be more excited about this next stage of building out a world-class staking stack.”
What the investors have to say
Rezso Szabo, Partner at Illuminate Financial, further said, “We are witnessing a once in a generation change that will catalyze the institutionalisation of Digital Assets. Sophisticated users and institutions need enterprise grade infrastructure. As a thesis-driven investor backed by traditional financial institutions, we believe the Kiln team has demonstrated they can build key infrastructure that is critical for both digital assets native institutions and will also serve as the future rails for financial services infrastructure. We are excited to partner with such a high-calibre team, who are on a mission to raise the bar in B2B infrastructure for the whole ecosystem.”
Besides,Ciaran O’Leary, Co-Founder and General Partner of BlueYard Capital, added, “Staking is going to be one of the core fabrics of the entire crypto industry. Kiln’s robust, scalable and safe solutions provide an important fabric for large pools of capital to participate in the core functioning of crypto networks and to generate novel forms of yield. We are excited that Kiln is at the forefront of this new market.”
In addition, Benoît Bosc, GSR Global Head of Product, said, “Having used Kiln’s infrastructure to stake our own treasury and in the future to offer to our clients, our company’s missions are perfectly aligned. We are delighted to be able to participate in the next stage of Kiln’s development and to contribute to making staking easier and more accessible to everyone.”
About the company
Laszlo Szabo, Ernest Oppetit, and Thomas de Phuoc launched the company in 2018. Industry-leading companies such as Binance US, GSR and Ledger use company services.
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