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The company’s infrastructure has handled over 10,000 on-chain transactions, even for big names within the crypto space. Some of its popular clients include Aave, ENS, MakerDAO, and Uniswap.
Key Notes
Karpatkey raised $7 million to expand its treasury management services to more DAOs and traditional finance.The firm currently manages over $1.8 billion in assets and has executed 10,000+ transactions without incident.Financial services and treasury management solutions provider for Decentralized Autonomous Organizations (DAOs) Karpatkey has announced the successful completion of a $7 million funding round. That is according to a recent report by The Block.
Per the announcement, Karpatkey will use the new funds to deliver its solutions to more DAOs while also extending its reach to traditional financial institutions.
The just-concluded round had notable venture capitalists, such as AppWorks Ventures and Wintermute Ventures, in participation. It also featured well-known angel investors like ConsenSys’ Joe Lubin, Fernando Martinelli from Balancer Labs, and Avara’s Stani Kuchelov, among many others.
With the crop of investors that graced the round, there is no doubt that Karpatkey has gained an appreciable amount of trust and recognition, particularly within the crypto industry.
Karpatkey: A Growing Force in Treasury Management
Karpatkey started as a project within GnosisDAO in 2020 and was originally created to manage its treasury.
However, the treasury management service became an independent entity after GnosisDAO voted to spin it off in June this year.
Since then, Karpatkey has grown so fast that its treasury network now manages assets worth over $1.8 billion.
To better understand its success thus far, the company’s infrastructure has handled over 10,000 on-chain transactions, even for big names within the crypto space. Some of its popular clients include Aave, ENS, MakerDAO, and Uniswap.
Interestingly, it executed every one of those 10,000 on-chain transactions for its clients without a single incident of risk management failure.
Speaking about the firm’s explosive growth, one of the key figures at Karpatkey, Marcelo Ruiz de Olano, says it is not unexpected. The official noted that the treasury manager employs a different approach from others like it, which has somewhat always guaranteed the results it is seeing today. A statement from the key figure reads:
“To achieve that, we had to build expertise in many areas outside traditional asset management.”
Some of the services that Marcelo highlighted include risk management, legal consulting, mergers and acquisitions (M&A), and business development.
As earlier mentioned, Karpatkey plans to use the new funds to expand its tentacles. That is, as it concerns its services to DAOs and, this time, even traditional financial institutions. However, it is expected that these moves will ultimately help its journey on the way to becoming a major force in the DAO treasury management sector.
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Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
