Utila raises $18m Series A to scale ops platform for digital assets
Digital asset operations platform Utila has raised $18 million in a Series A funding round. The raise was led by New York-based VC Nyca Partners, and supported by funds from Cerca Partners, Gaingels and Haymaker Ventures.
Digital asset ops platform Utila raises $18m Series A
Utila emerged from stealth following an $11.5 million seed round in March 2024, which was co-led by Wing VC, NFX and Framework Ventures.
Both Wing VC and NFX returned to support this latest round for Utila, which is now understood to have increased the company’s total funding to $30 million.
Founded by CEO Bentzi Rabi and CTO Sam Eiderman – a former Google and Oracle software engineer – Utila offers multi-party computation (MPC) wallets that enable digital asset management across multiple blockchains, wallets, teams and users.
Designed for the likes of payment service providers, Web3 developers, over-the-counter (OTC) desks, stablecoin issuers and exchanges, Utila currently counts 1Konto, Próspera, Psalion, PayeCards, MS Pay and crypto platform Vield among its global client base.
In a statement, the start-up says it will use the funds generated by the Series A to expand its research and development efforts, and scale operations to meet the demand for its MPC offering.
Maintaining offices in New York, Tel Aviv, London, Berlin and Singapore, Utila is understood to have secured $35 billion in digital asset transactions since making its market debut last year.
