Squads Labs Raises $10M Series A, Unveils Smart Wallet for Public Testing on iOS
Summary
Squads Labs, a technology company that helps businesses manage digital assets, has raised $10 million in a Series A funding round. Electric Capital led the round, with participation from RockawayX, Coinbase Ventures, L1 Digital, and Placeholder. Squads Labs has launched a smart wallet, Fuse, for public testing on iOS. Unlike traditional wallets, Fuse eliminates the need for seed phrases by using wallet recovery and 2FA capabilities. Previously focused on businesses, Squads Labs is now targeting individual users with the launch of Fuse. The company plans to use the funding to develop its smart account technology and products, and to expand its team.
