About Magna
Magna is a company based in New York (United States) founded in 2022. It operates as a SaaS (Software-as-a-Service), Subscription Services, and FinTech. Magna has raised $15.33 million across 2 funding rounds from investors including Polygon, Alchemy and Protocol Labs. Magna offers products and services including Onchain Vesting, Offchain Vesting & Tax, Whitelabel Claim Portals, Grant Management, and Custody & Escrow. Magna operates in a competitive market with competitors including Bitwave, Gilded, consola.finance, Fyde and Coinshift, among others.
- Headquarter New York, United States
- Stage Minicorn
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Sectors
Financial ServicesTechnology
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Phone
*********
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Website
*********
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Social
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- Legal Name Magna Digital, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$15.33 M (USD)
in 2 rounds
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Latest Funding Round
$15.2 M (USD), Seed
Sep 15, 2022
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Investors
Polygon
& 18 more
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Employee Count
Employee Count
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Products & Services of Magna
Magna offers a comprehensive portfolio of products and services, including Onchain Vesting, Offchain Vesting & Tax, Whitelabel Claim Portals, Grant Management, and Custody & Escrow. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Token unlocks are automated with on-chain vesting contracts.
Distribution timing is controlled with off-chain vesting solutions.
Customized claim portals are provided for token distribution.
Ecosystem grants are tracked and managed efficiently online.
Dynamic custody and escrow services are offered securely.
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Funding Insights of Magna
Magna has successfully raised a total of $15.33M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $15.2 million completed in September 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $15.2M
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First Round
First Round
(01 Jun 2022)
- Investors Count 19
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Seed - Magna | Valuation | Tiger Global Management , TVP | |
| Jun, 2022 | Amount | Seed - Magna | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Magna
Magna has secured backing from 19 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Polygon, Alchemy and Protocol Labs. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture and private equity investments are managed with global diversification.
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Founded Year | Domain | Location | |
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Early-stage tech startups in regulated markets are funded by TVP.
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Founded Year | Domain | Location | |
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Seed-stage companies are funded by this venture capital entity.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Magna
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Magna
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Magna Comparisons
Competitors of Magna
Magna operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Bitwave, Gilded, consola.finance, Fyde and Coinshift, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Accounting solutions for crypocurrencies
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| domain | founded_year | HQ Location |
Accounting and payment solutions are provided for crypto businesses.
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| domain | founded_year | HQ Location |
Automated crypto bookkeeping and reporting services are provided.
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| domain | founded_year | HQ Location |
On-chain treasury management solutions are offered for liquidity and yield.
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| domain | founded_year | HQ Location |
Crypto treasury management is provided for DAOs and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Magna
Frequently Asked Questions about Magna
When was Magna founded?
Magna was founded in 2022.
Where is Magna located?
Magna is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Magna a funded company?
Magna is a funded company, having raised a total of $15.33M across 2 funding rounds to date. The company's 1st funding round was a Seed of $125K, raised on Jun 01, 2022.
What does Magna do?
Comprehensive digital asset management services are offered by Magna for founders, protocols, investors, and financial officers in the blockchain sector. Token cap tables are managed, vesting schedules are automated both on-chain and off-chain, tax deductions are accounted for, airdrops are executed, conditional grants are distributed, and dynamic custody solutions are provided. Integration with major custody tools and HRIS platforms is supported, ensuring seamless operations across multiple blockchains like Solana, Ethereum, and Aptos. White-glove support and legal expertise are extended to ensure compliance and efficiency in token operations.
Who are the top competitors of Magna?
What products or services does Magna offer?
Magna offers Onchain Vesting, Offchain Vesting & Tax, Whitelabel Claim Portals, Grant Management, and Custody & Escrow.
Who are Magna's investors?
Magna has 19 investors. Key investors include Polygon, Alchemy, Protocol Labs, Plug and Play Tech Center, and Shima Capital.
What is Magna's valuation?
The valuation of Magna is $70M as of Sep 2022.
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