Crypto Investment App Donut Raises $1.8M USD In Seed Funding

Investing, News | March 19, 2019 By:

Crypto investment app Donut has raised $1.8 million in a seed funding round led by early-stage venture capital firm Redalpine. The round also saw participation from venture funds EarlyBlock and Entrepreneur First, AngelList’s Philipp Moehring and Andy Chung, N26 bank board member Marcus Mosen, and others.

Founded in 2018, Donut is a Berlin-based startup focused on building the next generation of products to enable users to get started within the digital asset ecosystem. The company’s goal is to to make entering into the digital asset ecosystem as fun and engaging as possible.

Donut said that the funding will be used to grow its engineering and design teams, launch early access to the Donut Test Kitchen in summer 2019, and invest in a better user experience (UX) and brand to facilitate the platform’s gamified approach.

“Today, navigating the digital asset ecosystem still remains incredibly complex. User experience is plagued with deciphering complicated terminology in white papers, handling private keys and managing complicated top-up processes,” said Donut co-founder and CEO Neel Popat. “We are building the next generation of products to enable users to get started within this ecosystem. We want to empower users to enter, engage and set better investing habits.”