Cointime

Download App
iOS & Android

Web3 Commerce App Setter Raises $5M Seed Round Led by A16z

  • Wechat scan to share

Web3 consumer-facing app Setter has raised $5 million in a seed round led by Andreessen Horowitz (A16z) and featuring participation from Marcy Ventures Partners, Dreamers VC, Thirty-Five Ventures, and Serena Williams. The company is building a "smart contract wallet" that allows users to easily switch from traditional Web2 payments to crypto using their credit cards. Setter aims to make it simpler for non-crypto native users to join Web3 and wants to help brands explore Web3-powered commerce by enabling them to offer payment options that allow users to easily switch from fiat to crypto. The company's initial plans are to develop partnerships with leading streetwear and sneaker brands, with an ultimate goal of expanding its ecosystem across fashion, luxury items, and consumer collectibles.

Comments

All Comments

Recommended for you

  • Crypto exchange GRVT completes $5 million financing, led by Further Ventures

    GRVT, a ZKsync hybrid encryption exchange, has completed a $5 million financing round with Further Ventures leading the investment.
  • Blockchain-based animation platform Oshi completes $12.5 million financing, led by Polychain Capital and others

    On January 20th, Oshi, a blockchain-based anime platform, announced the completion of a $12.5 million financing round, led by Polychain Capital and Superscrypt, with participation from Folius Ventures, Sfermion, The Spartan Group, Nomad Capital, CMT Digital, and others.
  • AI-driven crypto analytics platform Mind AI completes $1.2 million in funding, with participation from Lunar Labs Capital and others

    the AI-driven encryption analysis platform, Mind AI, has completed a $1.2 million financing round with participation from Castrum Istanbul, Dewhales, SMO Capital, Metazero Capital, X21 Digital, Zephyrus Capital, AlfaCatalyst, Maven Capital, Unicorn Ventures, and Lunar Labs Capital. The platform aims to solve problems such as information overload and unreliable KOL advice in the encryption industry. The new funds are intended to support the construction of AI and machine learning-based aggregation and analysis tools for on-chain and off-chain data, providing investors with feasible digital asset market analysis and decision-making.
  • Open source economic infrastructure Merit Systems completes $10 million seed round of financing, led by a16z crypto and others

    Merit Systems, an open-source economic infrastructure, has completed a seed round of financing of $10 million, led by a16z crypto and Blockchain Capital, with participation from Solana co-founder Toly, Not Boring Capital founder Packy McCormick, Farcaster co-founder Dan Romero, and Framework Ventures co-founder Vance Spencer. The funds raised will be used to accelerate the development of open-source economy.
  • AI code editor Cursor completes $105 million Series B financing

    On January 17th, AI code editor Cursor announced the completion of a $105 million Series B financing round, with investors including Thrive Capital, Andreessen Horowitz, and Benchmark. This round of funding will be used to expand the team and conduct cutting-edge research, promoting the development of "human-machine collaborative programming" mode and significantly improving programming efficiency.
  • MegaETH Ecosystem DEX Platform GTE Completes $10 Million Financing

    Global Token Exchange (GTE), a decentralized trading platform on the MegaETH blockchain, has raised $10 million in three rounds of financing. This includes $1.5 million in pre-seed financing, $6.942 million in seed financing, and $2.5 million in community financing, the latter of which was conducted on the Echo platform founded by cryptocurrency trader Jordan Fish (also known as Cobie).
  • Nomura-backed cryptocurrency firm Komainu raises $75 million

    Komainu Holdings Ltd., a cryptocurrency custody company supported by Nomura Holdings Inc., has raised $75 million in financing from Blockstream Capital Partners. This funding will be used to support Komainu's global expansion and integrate collateral management and tokenization technology developed by Blockstream.
  • Crypto Bank Sygnum Bank Completes $58 Million Funding

    Sygnum, a cryptocurrency bank headquartered in Switzerland and Singapore, has completed a $58 million financing round, with a post-financing valuation of $1 billion.
  • Turkish AI studio Grand Games receives $30 million in Series A funding led by Balderton Capital

    Turkish AI studio Grand Games has raised $30 million in Series A funding, led by London investment firm Balderton Capital, with other investors including Bek Ventures, Laton Ventures, and angel investor Mert Gür. The company plans to use the funds to expand its workforce and continue developing games while maintaining its existing structure. Grand Games is a mobile game publisher based in Turkey, known for casual games such as "Magic Sort" and "Car Match," and has been in operation for less than a year.
  • Decentralized AI platform Nodepay completes $7 million in second round of financing

    decentralized AI platform Nodepay has completed its second round of financing, raising $7 million. Investors include IDG Capital, Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Etherscan founder Matthew Tan, and CoinHako co-founder and CEO Yusho Liu.