Mumbai, Oct 13 (PTI) Singapore-based digital asset management platform Pillow has raised USD 18-million capital in Series A funding round to accelerate adoption of crypto services in emerging markets.

The round was co-led by Accel, Quona Capital, Elevation Capital and Jump Capital, it said.

Also Read | Loan Against Property or Personal Loan: Which Should You Choose?.

Elevation Capital were also the first seed investors in Pillow, having led the round in 2021, according to a statement.

Founded in 2021, the crypto investment platform claims over 75,000 users, in over 60 countries, who are saving and investing using digital assets.

Also Read | Meta Again Rejects Allegations Made by The Wire Claiming Them False.

Within the Pillow app, users can invest and save in US Dollar-backed stablecoins, as well as multiple blue-chip crypto currencies including Bitcoin, Ethereum and others, according to the platform.

Pillow has plans to foray in the emerging markets such as Africa and Southeast Asia, as per the statement.

Beginning this year, the company said, it has grown its user base by 300 per cent, with assets under management having grown 5X. In addition, the company has expanded into Nigeria, Ghana, and Vietnam, among other emerging markets, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)