Draper Associates backs Xverse to grow its Bitcoin neobank
Draper Associates is tied to Xverse in a new financing story that also includes Trust Machines and Draper Dragon. Xverse is described as a self-custodial Bitcoin platform that supports earning, borrowing and spending, and it says it has more than 2 million app downloads. The round was disclosed without terms, and the amount raised and valuation were not disclosed.
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Xverse users and people tracking Bitcoin products see another funding event around a wallet and neobank-style app that already says it has more than 2 million downloads. The immediate visible change is that Draper Associates is now connected to the company as a portfolio name and as the lead in the strategic round, alongside Trust Machines and Draper Dragon.
What remains open is the size of the round and the valuation, because neither was disclosed. The documents also leave open what the financing changes in the company’s plans, and the only settled detail is that the round involved Draper Associates, Trust Machines and Draper Dragon.
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