Argent, a mobile cryptocurrency wallet, has announced it has closed a $12 million Series A funding round led by Paradigm. Robert Leshner, founder of Compound, and existing backers Index Ventures, Creandum and firstminute also participated in the investment.
Launched in 2018, Argent claims it build the first smart crypto wallet, using smart contracts to provide the “ease and security” of the best new bank apps. It never holds users’ assets and allows people to send money as a message to anyone and anywhere.
In a blog post talking about the company’s Series A investment, CEO and co-founder Itamar Lesuisse wrote:
“We went looking for our perfect partner. One that shared our vision for a decentralised future, a focus on creating products that empower people, and an appreciation that while the opportunity is massive, crypto’s in its early days and the road ahead won’t be easy. Paradigm’s outstanding reputation meant they were top of our list.
“Their investments in decentralised exchange (Uniswap) and Layer 2 (Starkware) show their commitment to creating a new financial system. We’re thrilled to have them on board and know their advice will be invaluable in the years ahead.”
Argent’s wallet is available on iOS and Android. It will use the fresh funding to continue growing and developing its platform, as well as expanding its Europe-based team.
The blog post also revealed that Argent will be expanding the non-engineering side of its workforce for the first time.