Flint, a crypto investment platform, has raised $5.1 million in its seed round led by Sequoia Capital India and GFC. Coinbase Ventures, Hashed, IOSG, Better Capital, Antler India and MSA Capital have also participated in the round as part of 11 institutional investors.
According to the Bengaluru-based startup, the fresh capital will accelerate bringing early users on board, enhance the product based on early feedback, and hire for senior positions across engineering, design and product functions.
Flint also plans to allocate a significant portion of the funding to strengthen legal and risk functions, ensuring compliance with legal and regulatory norms, while also going above and beyond market standards to reduce business risk.
Founded in October 2021 by Akshit Bordia and Anshu Agrawal, Flint offers a simple and stable income opportunity where users can earn up to 13% p.a. on their deposited funds. It only deals with stable cryptocurrencies like USDT, and USDC that are free from crypto price fluctuations.
Flint also provides the flexibility of having no ‘lock-in period’ where users can withdraw their funds at any time without any fees
