Friday Redalpine announced: We are excited to announce our investment in Donut, an investment app for digital assets. The Berlin-based startup has completed a $1.8M Seed round, led by Redalpine. The funding will be used to further build out the product and grow Donut’s engineering and design teams.
Donut is bringing convenience, trust and accessibility to managing and transacting in crypto assets. The mobile-first platform leverages the EU’s upcoming PSD2 banking regulation to remove some of the common on-ramp issues with buying and storing digital assets. Donut provides a frictionless journey to save, invest in and transact a curated collection of digital assets while also providing much needed education – without the need to navigate private keys, manage wallet addresses and deciphering complicated white papers.
“We believe most people will have the majority of their wealth stored in digital assets within the next decade. That could be anything from cryptocurrencies to fractional ownership of art or owning a piece of unique land in virtual reality,” explains Neel Popat, co-founder and CEO of Donut. “Our mission is to empower everyone to become an investor in that future.”
Apart from Neel, who is a LSE and Harvard graduate and has gained experience in the PE/VC with various investors, the highly complementary founding team includes CTO Jordan Abderrachid, an early N26 software engineer, CPO Dan Spooner, Accenture Digital’s youngest ever product manager and CMO Julian Lehr, an early member of Google’s EMEA User Acquisition Team.
Our partner and Donut board member Harald Nieder adds: “We share the vision of the Donut team about the prevalence of digital assets in the future. Digital assets have many beneficial features over traditional assets, yet lack a single access point for holders to conveniently store, manage and transact. With Donut, we are supporting a great team to build that missing layer in the crypto ecosystem.”
Donut is currently in a beta testing mode with a full launch planned this summer. More than 5,000 users have already joined the company’s waiting list. To sign up, use this link 🍩
Picture: The Donut founding team: Neel Popat, Jordan Abderrachid, Dan Spooner, Julian Lehr
Further Information: https://www.redalpine.com