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KR1 investee digital asset custodian company Volt raises $2 million

KR1 investee digital asset custodian company Volt raises $2 million

KR1, an investment vehicle which pursues investments in the blockchain sector today announced that Volt Ltd has completed a successful fundraising of USD $2 million at a post-money valuation of USD $17million.

The funding round saw participation from a highly regarded family office and strategic individuals in the digital asset and traditional financial industry. Following completion of Vo1t’s funding round and the conversion of Vo1t convertible loan notes held by KR1, the company now holds ordinary shares in Vo1t representing 7.94% of the company, which at the post-funding valuation, values KR1’s stake in Vo1t at USD $1.4 million.

Vo1t is an institutional digital asset custodian, that offers clients safe storage of digital assets including BTC, ETH, XRP, and numerous others.

In addition to the cold-storage service, Vo1t offers bespoke integrations into institutional financial infrastructure solutions as well as a white-labeled and “Storage-as-a-Service” solution for regulated traditional custodians or digital asset exchanges.

“Since its inception we have seen Vo1t gain great traction, continuing to onboard new clients and consistently generating revenue every month. This year and with the funds raised, they have extended their service offering significantly to exchanges and leading financial institutions exploring digital assets and the blockchain space. The company’s assets in custody increased significantly from our seed round participation earlier in 2017.”

George McDonaugh, Chief Executive Officer of KR1
Source:KR1

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