About Scallop
Scallop is a company based in Tortola (British Virgin Islands) founded in 2021 by Kris Lai.. Scallop has raised $3 million across 3 funding rounds from investors including KuCoin, Cetus and CMS Holdings. Scallop operates in a competitive market with competitors including Airfox, Liquity, Meow, hoseki and TrueFi, among others.
- Headquarter Tortola, British Virgin Islands
- Founders Kris Lai
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3 M (USD)
in 3 rounds
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Latest Funding Round
$20 K (USD), Token Sale
Mar 08, 2024
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Investors
KuCoin
& 5 more
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Employee Count
Employee Count
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Funding Insights of Scallop
Scallop has successfully raised a total of $3M across 3 strategic funding rounds. The most recent funding activity was a Token Sale round of $20 thousand completed in March 2024. 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 3
- Last Round Token Sale — $20,000
- First Round First Round
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Token Sale - Scallop | Valuation |
investors |
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| Mar, 2024 | Amount | Seed - Scallop | Valuation | CMS Holdings , 6MV | |
| Jan, 2024 | Amount | Seed - Scallop | Valuation | Cetus |
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| 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 Scallop
Scallop has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include KuCoin, Cetus and CMS Holdings. 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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Investments in blockchain technology startups are made by 6MV.
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Founded Year | Domain | Location | |
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Blockchain startups are supported by a venture capital-backed startup studio.
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Founded Year | Domain | Location | |
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Limited information is provided about UOB Venture Management.
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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 Scallop
| 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 - Scallop
| 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 |
Scallop Comparisons
Competitors of Scallop
Scallop 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 Airfox, Liquity, Meow, hoseki and TrueFi, 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 |
Blockchain-based mobile wallet for recharges and loans is offered.
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| domain | founded_year | HQ Location |
Decentralized interest-free loans against Ether are offered in stablecoins.
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| domain | founded_year | HQ Location |
High-interest business banking services are provided to companies.
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| domain | founded_year | HQ Location |
Online crypto-focused lending platform for individuals
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| domain | founded_year | HQ Location |
A decentralized protocol for cryptocurrency lending and borrowing is operated.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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 Scallop
Frequently Asked Questions about Scallop
When was Scallop founded?
Scallop was founded in 2021 and raised its 1st funding round 3 years after it was founded.
Where is Scallop located?
Scallop is headquartered in Tortola, British Virgin Islands.
Who is the current CEO of Scallop?
Kris Lai is the current CEO of Scallop. They have also founded this company.
Is Scallop a funded company?
Scallop is a funded company, having raised a total of $3M across 3 funding rounds to date.
What does Scallop do?
Scallop was founded in 2021 and is headquartered in Tortola, United Kingdom. As a DeFi protocol within the blockchain sector, operations are centered on the Sui ecosystem. Lending, borrowing, automated market making (AMM), and asset management tools are integrated into a single platform. An SDK is also provided for professional traders to access these functionalities.
Who are Scallop's investors?
Scallop has 6 investors. Key investors include KuCoin, Cetus, CMS Holdings, 6MV, and Blockchain Founders Fund.