Ottr Finance
The hottest new Solana wallet in town.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
| USD | 2023 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Ottr Finance was established in May 2022 by Aleksei Zakharov, who currently serves as the CEO. Zakharov, a former Senior Software Engineer at Cash App where he led the crypto mobile team, and with prior experience at Lyft, founded the company to simplify the crypto experience for everyday users. The company is headquartered in San Francisco, California.
Operating in the financial software and cryptocurrency/blockchain sectors, Ottr Finance developed a self-custody crypto application built on the Solana blockchain. The platform was designed to function like a decentralized "Venmo for Crypto," enabling users to send USDC instantly and for free to over 100 countries without the complexities of managing seed phrases or private keys. Key features included passwordless authentication with automatic encrypted key backups to a user's cloud storage, gas-free transfers, fee-free crypto trading, and seamless integration with U.S. bank accounts. The business aimed to make decentralized finance more accessible by removing common barriers to entry such as high transaction fees and a steep learning curve. The app offered users up to 25 free transactions per day.
In October 2022, Ottr Finance secured $3.1 million in a pre-seed funding round led by Race Capital, with participation from Circle Ventures, Slow Ventures, and angel investor Kamal Ravikant. This capital was intended to fuel expansion into over 100 countries and further develop its financial offerings. A significant milestone occurred in February 2024 when Tools for Humanity, the primary developer behind the Worldcoin project, acquired Ottr Finance for an undisclosed amount. Following the acquisition, Ottr Finance announced it would sunset its wallet and mobile application, with the service officially stopping on July 31, 2024. The Ottr team joined Tools for Humanity to apply their expertise to the World App, Worldcoin's digital wallet, to help build a global human network and advance digital identity.
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