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.
- Total Equity Funding$15.33M (USD)
in 2 rounds
- Latest Funding Round$15.2M (USD), Seed
Sep 2022
- InvestorsPolygon
& 18 more
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.
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.
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 $15.33M
- Total Rounds 2
- Last Round Seed — $15.2M
- First Round $125,000
(Jun 2022)
- Investors Count 19
All 2 funding rounds of Magna with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2022 | $15.2M | Seed | $70M | Tiger Global Management, TVP | |
| Jun 2022 | $125,000 | Seed | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Sep 2022 | $70M | •••••••• |
Last known valuation $70M (Sep 2022). 19 investors in total: 16 institutional and 3 angel.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture and private equity investments are managed with global diversification. | – | tigerglobal.com | New York, United States | |
Early-stage tech startups in regulated markets are funded by TVP. | – | tusk.vc | New York, United States | |
Seed-stage companies are funded by this venture capital entity. | – | circle.vc | Vilnius, Lithuania | |
Solana Ventures is focused on investing in Solana-based companies. | – | solana.ventures | - | |
Early-stage startups are accelerated via funding and educational programs. | – | ycombinator.com | Mountain View, United States | |
Blockchain startups are supported by a venture capital-backed startup studio. | – | blockchainff.com | Singapore, Singapore | |
Venture capital investing and portfolio management services for accredited investors. | – | av.vc | - | |
Provider of a venture capital firm that invests in technology and life sciences companies | – | olivetreecapital.com | Boston, United States | |
Early-stage investments are targeted by Protofund, a venture capital firm. | – | protofund.com | Los Angeles, United States | |
Startups are accelerated and invested in across multiple tech sectors. | 2006 | plugandplaytechcenter.com | Sunnyvale, United States |
Investor details for Magna
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Magna
7 people are tracked at Magna (2 in leadership, 5 in team).
| Name | Role | Group |
|---|---|---|
Bruno B. Ferrari Faviero | Co-Founder & CEO | Leadership |
Arun Kirubarajan | Co-founder | Leadership |
Geekyoptimist .eth | Marketing & Community Lead | Team |
Erkan Tecim | Product Designer | Team |
Wesley Kam | Business Development Lead, Asia | Team |
Michał Lytek | Software Developer | Team |
Abdullah Yusuf | Founding Product Manager | Team |
Complete people profiles for Magna
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Magna
4 dated milestones of Magna, from founding to its latest funding, stage changes and deals.
- Founded Magna is founded.
- Funding First funding round of $125K.
- Funding Latest funding round, Seed, of $15.2M.
- Milestone Reaches Minicorn status.
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.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| bitwave.io | 2019 | San Francisco, United States | $22.25M | 5 | Accounting solutions for crypocurrencies | |
| gilded.finance | 2018 | New Orleans, United States | – | – | Accounting and payment solutions are provided for crypto businesses. | |
| consola.finance | 2022 | Vienna, Austria | $1.1M | – | Automated crypto bookkeeping and reporting services are provided. | |
| fyde.fi | 2022 | Tortola, United Kingdom | $3.45M | – | On-chain treasury management solutions are offered for liquidity and yield. | |
| coinshift.xyz | 2021 | Wyoming, United States | $17.5M | – | Crypto treasury management is provided for DAOs and businesses. | |
| integral.xyz | 2016 | Toronto, Canada | $17M | – | Software tools for financial management are offered to crypto businesses. | |
| aerial-p.com | 2016 | Minato, Japan | $1.62M | – | Cryptocurrency accounting software and taxation solutions are offered. | |
| accointing.com | 2017 | Zug, Switzerland | – | – | Cryptocurrency portfolios are tracked and tax reports are generated. |
Detailed competitors of Magna
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Magna
The website of Magna (magna.so) receives about 9K visits a month.
- Monthly visits9K
▼ 20.6% vs previous month
Websites whose visitors overlap most with Magna. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
drinkmagna.com | drinkmagna.com | 100% | – | #409,346 | – |
Latest news on Magna
Complete news archive for Magna
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Magna
10 companies that operate in the same segment as Magna (Cryptocurrencies), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cross-border cryptocurrency payments for businesses are enabled through APIs. | 2013 | Boston, Massachusetts, United States | USD 1.51 B | USD 2.75 B | – | |
Online exchange platform for cryptocurrency | 2017 | Ta Xbiex, Malta | USD 2.02 B | – | – | |
App-based platform for exchange and trading solutions for cryptocurrency | 2011 | London, England, United Kingdom | USD 700 M | – | – | |
Terraform Labs is engaged in blockchain technology development. | 2018 | Singapore, Singapore | USD 57 M | – | – | |
Ledger is recognized for providing secure cryptocurrency hardware wallets. | 2014 | Paris, France | USD 575.4 M | – | – | |
App-based wallet and exchange platform for cross-border money transfers | 2013 | London, England, United Kingdom | USD 73.36 M | – | – | |
Cryptocurrency trading, storage, and exchange services are offered online. | 2012 | San Francisco, California, United States | USD 546.62 M | USD 7.18 B | 3,770 | |
Cryptocurrencies are traded and exchanged through an online platform. | 2014 | Mexico City, Mexico | USD 331.35 M | – | – | |
Decentralized exchange platform for cryptocurrency trading is operated. | 2018 | New York, New York, United States | USD 176 M | – | 85 | |
Mobile app for storing and trading cryptocurrencies is utilized. | 2013 | London, England, United Kingdom | USD 13 M | – | – |
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Frequently Asked Questions about Magna
Magna was founded in 2022.
Magna is headquartered in New York, United States. It is registered at New York, New York, United States.
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 2022.
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.
Magna offers Onchain Vesting, Offchain Vesting & Tax, Whitelabel Claim Portals, Grant Management, and Custody & Escrow.
Magna has 19 investors. Key investors include Polygon, Alchemy, Protocol Labs, Plug and Play Tech Center, and Shima Capital.
The valuation of Magna is $70M as of Sep 2022.
Magna operates through Magna Digital, Inc..