Privacy-enhanced bitcoin wallet app Samourai Wallet has secured its first round of venture capital funding.
London-based Katana Cryptographic, the company behind the wallet app, has received a $100,000 investment from privacy-focused investment firm Cypherpunk Holdings.
“We met with Katana, and were most impressed with the technologies they are developing and with Katana’s commitment to privacy,” Cypherpunk Director Dominic Frisby said in a press release. “We share similar values, so are delighted to be able to aid the future development of Katana’s products from such an early stage.”
Cypherpunk chief economist Jon Matonis added, “As transactional privacy by default becomes the norm in digital wallets, Samourai may be leading the way in fungibility innovation and maintaining proper coin hygiene.“
Enhanced privacy features
The money will be used to further enhance the Android-exclusive app’s privacy features, specifically for deterring Bitcoin surveillance. The new funding will also be utilized to expand development, customer service, and the company’s quality assurance program.
“Katana is excited to have found a partner in Cypherpunk Holdings,” said Katana CEO Keonne Rodriguez. “We look forward to their partnership and support as we continue executing on our mission to deploy easy to use, privacy enhancing software on the Bitcoin blockchain.”
“Financial sovereignty is more important now than ever before, with the freedom to transact being tantamount to freedom of speech. Cypherpunk Holdings have demonstrated their commitment to these core values and we look forward to working on delivering this vision with their support.“
Despite still being in alpha, the currently available version of Samourai Wallet already has a 27,000-strong user base. The app’s full v.10 release is expected to hit the Google Play Store before the end of June.