Lightning Startup Zap Raised $3.5M for Bitcoin App Ahead of Visa Deal

Lightning startup Zap Inc., maker of both the namesake, non-custodial bitcoin wallet and the payments app Strike, raised its first round in April, led by Green Oaks Capital and including veteran bitcoin investor Anthony Pompliano.

The funding was first reported by Forbes on Wednesday.

STORY CONTINUES BELOW

Recommended for you:

Founder Jack Mallers’ previously bootstrapped startup is now the latest jewel in the Green Oaks Capital crown, as the firm previously invested in fintech unicorns Robinhood and Stripe.
Zap Inc., founded in 2017, is run by a staff of 13 people spread out from Chicago to Barcelona to Berlin.
The team plans to issue a Visa card in 2020, making it one of the smallest startups to offer exchange services with mainstream liquidity in dollars.
Zap Inc. investor Colleen Sullivan of CMT Digital said, "We believe that Zap/Strike will bring the use of the Bitcoin protocol and the Lightning Network to the masses, resulting in a much more efficient and cost-effective way for users to send and receive money while abstracting away the complexities of the underlying technology." CMT Digital is also invested in Lightning Labs.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.