In this article, we discuss the 5 best cryptocurrency startups to watch. If you want to read our detailed analysis of these startups, go directly to the 10 Best Cryptocurrency Startups to Watch.
5. Blockchain.com
Blockchain.com is a cryptocurrency explorer, wallet, and exchange platform. The company has managed to raise more than $490 million in funding so far over six rounds, with the latest round bringing in $300 million in late March. The company is one of the largest pure plays on crypto in the internet market, boasting a user base of over 50 million. The company is based in London and is placed fifth on our list of 10 best cryptocurrency startups to watch.
One of the lead investors in the company is Google Ventures, a fund backed by Alphabet Inc. (NASDAQ: GOOG), the California-based technology company that consistently backed the rise of crypto but not invested heavily in it yet. Alphabet Inc. (NASDAQ: GOOG) is gearing up for the launch of a retail store as it bids to rival competitors like Apple.
Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ: GOOG) with 2.9 million shares worth more than $6 billion.
4. Chipper Cash
Chipper Cash is a financial technology company that facilitates cross border peer-to-peer payments. The startup has so far raised more than $152 million in funding over five rounds, with the latest $100 million raised at the end of last month. Fintech is one of the fastest growing business segments in Africa and Chipper Cash is already serving customers in many Africa states, including Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. The firm has plans for expansion into the UK as well.
Jeff Bezos
Amazon.com, Inc. (NASDAQ: AMZN) owner Jeff Bezos has invested in the company through his personal fund, Bezos Expeditions. Although Amazon.com, Inc. (NASDAQ: AMZN) is still yet to fully embrace cryptocurrencies, the company is seeking a foothold in the crypto-related fintech realm.
At the end of the first quarter of 2021, 243 hedge funds in the database of Insider Monkey held stakes worth $50 billion in Amazon.com, Inc. (NASDAQ: AMZN), down from 273 in the preceding quarter worth $51 billion.
3. Spring Labs
Spring Labs is a company that is building a platform which will enable big financial institutions to securely share data between themselves without compromising on user identities. The company has so far raised more than $68 million in funding over three rounds, with the latest $30 million raised at a round in late April. On May 11, consumer credit reporting agency TransUnion (NYSE: TRU) revealed that it invested in Spring Labs as it seeks to explore new models for user profiling in baking services.
The endorsement by TransUnion (NYSE: TRU), a company with a market capitalization of more than $20 billion, will boost the profile of Spring Labs and bring in more investors to the company. TransUnion (NYSE: TRU) invested in the startup after lengthy discussions with Spring Labs founder and CEO Adam Jiwan.
Out of the hedge funds being tracked by Insider Monkey, New York-based firm Select Equity Group) is a leading shareholder in Spring Labs founder and CEO Adam Jiwan with 4.3 million shares worth more than $391 million.
2. Netki
Netki is a company that provides digital verification technology. The company has raised more than $3.5 million so far in two funding rounds led by investors such as O’Reilly AlphaTech Ventures. Netki aims to be the leading provider of tools that will enable blockchain-based currencies like Bitcoin to expand their reach around the world. The products marketed by the company comply with anti-money laundering rules laid down by international bodies. It is ranked second on our list of 10 best cryptocurrency startups to watch.
A similarly good investment in the cybersecurity sector is CrowdStrike Holdings, Inc. (NASDAQ: CRWD), the cloud workload and endpoint security company. CrowdStrike Holdings, Inc. (NASDAQ: CRWD) is expected to benefit from a new plan by US President Biden to pour hundreds of billions of dollars into American technology firms to protect against increasing cyber threats to ordinary Americans.
At the end of the first quarter of 2021, 77 hedge funds in the database of Insider Monkey held stakes worth $5.2 billion in CrowdStrike Holdings, Inc. (NASDAQ: CRWD), down from 92 in the preceding quarter worth $7.2 billion.
1. Bitpanda
Bitpanda is a cryptocurrency exchange platform that deals in Bitcoin, Ethereum, and other cryptocurrencies, as well as gold and stocks. It is placed first on our list of 10 best cryptocurrency startups to watch. It is one of the most valuable startups based out of Europe and raised more than $170 million in funding in late March at a valuation of over $1 billion. The company already operates in Austria, France, Spain, Turkey, Italy and Poland. It is different from other crypto exchanges as it deals in stocks and gold in addition to digital assets like crypto.
The latest round of funding for the firm was led by Valar Ventures, a fund backed by billionaire Peter Thiel, the co-founder of PayPal Holdings, Inc. (NASDAQ: PYPL) with a long and impressive history of backing startups that grow into huge corporations. PayPal Holdings, Inc. (NASDAQ: PYPL), since its founding, has become one of the largest financial services companies in the world.
Out of the hedge funds being tracked by Insider Monkey, UK-based investment firm Fundsmith LLP is a leading shareholder in PayPal Holdings, Inc. (NASDAQ: PYPL) with 12.3 million shares worth more than $2.9 billion.
You can also take a peek at Billionaire Stan Druckenmiller’s Top 10 Stock Picks and Billionaire Julian Robertson On Interest Rates and His Top Stock Picks For 2021.
