Safle

Safle operates within the blockchain sector, providing a non-custodial, multi-chain wallet and infrastructure for the decentralized ecosystem. Founded in 2019 by Abhimanyu Kashyap, Shikha Mehra, Megha Mehra, and Priyanshu Singh, the company aims to simplify user interaction with the Web 3.0 space. The company is headquartered in Gurugram, India, with locations in Wyoming and Abu Dhabi. A significant leadership change occurred with the exit of former CEO Abhimanyu Kashyap, paving the way for Apoorv Shankar and Shikha Mehra to lead the firm, which brought a restructured cap table.

The core of Safle's offering is its digital asset identity wallet, which functions as a decentralized infrastructure solution. It provides users with a secure method for managing private keys and interacting with decentralized applications (dApps), DeFi, and NFTs. The platform is accessible via a web application, browser extension, and mobile app. Key features include SafleID, a unified digital identity system for managing multiple wallets; SafleVault for secure asset protection; and SafleSwap, which allows for in-wallet token exchanges. For developers, Safle provides a keyless SDK and Web3 infrastructure to streamline user onboarding and management. The company targets both retail users and developers in the decentralized ecosystem.

Safle's business model is centered around its native utility and governance token, $SAFLE. This token is integral to the ecosystem, used for paying for features, rewarding developers, and incentivizing user engagement. Token holders can participate in the platform's governance through the SafleDAO, where they can propose and vote on changes to the wallet's functionalities and services, fostering a community-driven environment. Staking the $SAFLE token allows users to earn yields and access features like the social recovery for their vault. The company has secured funding from notable investors, including Draper Dragon, Woodstock Fund, and the founders of Polygon. Initial seed funding of $900k was raised in October 2021, followed by a private round of over $4 million in December 2021. An ICO in December 2021 raised an additional $550K. As of July 2024, the company reached a valuation of $77 million after securing additional private funding.

Keywords: non-custodial wallet, multi-chain, blockchain infrastructure, decentralized identity, Web3, dApps, DeFi, NFTs, $SAFLE token, crypto wallet