Stacked, a web-based platform that provides passive investment tools for retail investors interested in crypto, just announced it raised a $35 million Series A co-led by Alameda Research, a crypto trading firm owned by FTX founder Sam Bankman-Fried.
Bybit and BitDAO partner Mirana Ventures co-led the round alongside Alameda. Fidelity International Strategic Ventures, DRW Venture Capital, Alumni Ventures, and Jump Capital also participated.
The Chicago-based company, which launched in April 2020, raised a $1 million seed round in September 2020. The latest round brings its total funding to “just shy of $40 million,” co-founder and CEO Joel Birch told TechCrunch in an interview.
It plans to use the funds to double its 40-person employee base in the next six to eight months and invest in user acquisition, growth and marketing. Until this fundraise, Stacked had grown its business with no formal marketing spend, he added.
Stacked has automated over $10 billion worth of transactions for tens of thousands of new investors in 2021, per the company. It also secured status as a…
