Tweed has raised a $4m seed round led by Accel
IN BREIF:
- Tweed is a white-label wallet and payment solution that supports web2 platforms hoping to break into the web3 space. The plug and play solution enables companies to generate wallets for their users and can be integrated into existing products.
- Tweed was founded last year by CEO Michelle Latzer, previously Google tech infrastructure, CPO Julie Tauber, ex-Mastercard and CTO Udi Hakim, formerly head of innovation at CYMOTIVE Technologies
- The round also included Communitas Capital Partners, Zero Knowledge Ventures and angel investors including Sorare CEO Nicolas Julia, ex-Venmo COO Mike Vaughan and ex-JP Morgan executive Ameet Patel
What does this mean?
CEO Michelle Latzer commented, “more businesses are accepting crypto payments and incorporating web3 experiences than ever before, however, this new era of web3 payment infrastructure is still in its infancy. It remains difficult to scale transactions without experiencing massive regulatory, technical and onboarding friction. Starting with a developer-friendly, white-label, true self-custodial wallet, Tweed helps brands scale their web3 offering so that they don’t have to choose between user experience or user ownership, all without added regulatory overhead.”
