San Francisco, CA – August 5, 2019 – Evercoin, a non-custodial mobile wallet and exchange service for cryptocurrencies, today announced the closing of $1 million in pre-seed stage financing. The round was led by gumi Cryptos Capital and featured participation from a group of prominent blockchain and open source pioneers.
Impressive Investor Lineup
Investors in this round include Roger Ver – Founder and Executive Chairman of Bitcoin.com; Ross Mason – Founder of MuleSoft (sold to Salesforce.com); Marc Fleury – Founder and CEO of JBoss Open Source (sold to Red Hat); John Pigott – Founder and CEO of ABE Exchange; and Eman Pulis – Founder and CEO of Malta Blockchain Summit.
Use of Funds and Product Highlights
Evercoin will use the funding to continue development on its market-leading non-custodial mobile wallet-based cryptographic asset exchange. The platform already features: self-custody (users control their private keys), secure key recovery (the company never sees or stores keys), and support for popular coins tradable in the U.S., including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), USD Coin (USDC), Litecoin (LTC), Ripple (XRP), Stellar (XLM), Cardano (ADA), Tron (TRX), Dash (DASH), Zcash (ZEC), Ethereum Classic (ETC), Bitcoin Gold (BTG), Qtum (QTUM), Decred (DCR), and Dogecoin (DOGE). Additionally, users can buy crypto with fiat USD by connecting their bank account, available initially in 10 U.S. states with ongoing expansion. The service is mobile-first on Android and iOS, offering both instant exchange and non-custodial limit orders.
CEO and Investor Perspectives
“We are proud to welcome a set of extremely strategic investors into our seed round,” said Talip Ozturk, founder and CEO of Evercoin. “These investors represent a tremendous range and depth of experience and deep networks in open source software, Bitcoin and regulatory issues for the cryptographic asset class.” Talip is also the creator of Hazelcast, a popular open-source in-memory distributed database used by major financial services firms worldwide. He was inspired to join the cryptocurrency movement by combining his passion for open systems and distributed governance with his experience in high-performance financial infrastructure.
“Evercoin is a beautifully designed consumer user experience that provides all of the benefits of popular services like Coinbase,” said Ray Zhang, Managing Director at gumi Cryptos Capital. “What gets us excited is that it’s the strongest product in the market for delivering those features without compromising on user custody, the most important issue for cryptographic assets.”