Series A fundraising campaign was initiated by secure crypto wallet app, Zengo. During the fundraising campaign, Zengo has successfully generated funds to the tune of US$ 20 Million. For raising the funds the app partnered with Insight Partners which helped the app generated the funds.
Because the application of Zengo is a non-custodial crypto application, therefore, Zengo does not provide crypto custodial services. Instead, the ultimate controller of the crypto funds is the one who is the beneficiary and possessor of the crypto funds. This provides more liberty to the application users to have full command and control over their crypto assets.
The sole purpose of the application is to allow users access to their crypto assets lying with their crypto custodial firm. But for accessing their assets, the users are not required to log into their personal computers or laptop. Instead, they can access their crypto funds and carry out crypto transactions through the application.
It was informed by Zengo that the fundraising campaign was very successful as the leading and pioneer companies too took part in the fundraising. Companies such as Samsung Next, FJ Labs, Benson Oak, Elron, etc. also took part as they were all existing investors for the Zengo App. The newest investors who became part of the campaign were Austin Rief Ventures as well as Distributed Global.
The difference between any other app and Zengo is that the parent company of Zengo is continuously trying to upgrade their application. Their aim is to make Zengo one of the kind which is highly secured and efficient and its usability remains as simple as it could be. In addition, Zengo App has been developed on the basis of MPC i.e. multiparty computation. Because of its usability, Zengo is regarded as one of the finest crypto apps amongst some of the notable apps such as Argent and Coinbase Wallet, etc.
Because Zengo is based on MPC therefore when a crypto wallet is being created by a user, there are multiple security protocols applicable to the new wallet. In addition, these multiple security protocols and access keys are duly encrypted in the highly secured codes. As a result of this encryption, not even the company can in any way access the funds of the application user. Similarly, if a person loses his cell phone then he can easily recover his wallet by installing the app by providing security passcodes.
Zengo is a highly rated crypto user app that is safely regarded as an app built for consumer purposes only. In the past three months, Zengo has successfully acquired approximately 100,000 more users.
The future plans of the app include launching Zengo based debit and credit cards.