Wednesday, June 6, 2018

Unchained Capital Raises $2.995M For Crypto Lending

Austin-based Unchained Capital, a new startup which lets cryptocurrency investors diversify their holdings by securing loans in U.S. dollars using their crypto holdings, is announcing that it has raised $2.995M in a seed funding round. The company said the funding came from Michael Komaransky (formerly of Cumberland Mining and an early Bitcoin OTC desk operator), Brian Spaly (co-founder of Bonobos and Trunk Club), Mike Erwin and Whurley (Ecliptic and Ezra Galston of Starting Line). The company said it is aiming its service at what it calls Crypto 'whales', who want to diversify their holdings into real estate or other investment opportunities. The company's founders are CEO Joe Kelly and CSO Dhruv Bansal. Unchained Capital says it accepts both Bitcoin and Ethereum as collateral. More information »