About Squads Labs
Squads Labs is a company based in Tortola (British Virgin Islands) founded in 2021 by Sean Lars and Stepan Simkin.. Squads Labs has raised $17.2 million across 3 funding rounds from investors including Coinbase, Republic and Multicoin Capital. Squads Labs offers products and services including Squads Platform and Fuse. Squads Labs operates in a competitive market with competitors including Consensys, Luno, Uphold, Coins.ph and BlockFi, among others.
- Headquarter Tortola, British Virgin Islands
- Founders Sean Lars, Stepan Simkin
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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
$17.2 M (USD)
in 3 rounds
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Latest Funding Round
$10 M (USD), Series A
Jun 10, 2024
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Investors
Coinbase
& 21 more
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Employee Count
Employee Count
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Products & Services of Squads Labs
Squads Labs offers a comprehensive portfolio of products and services, including Squads Platform and Fuse. 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.
Enables businesses to manage and scale onchain operations efficiently.
Provides secure self-custody for crypto assets and programmable features.
Funding Insights of Squads Labs
Squads Labs has successfully raised a total of $17.2M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $10 million completed in June 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 Series A — $10.0M
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First Round
First Round
(28 Oct 2021)
- Investors Count 22
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2024 | Amount | Series A - Squads Labs | Valuation | Electric Capital | |
| Oct, 2023 | Amount | Series A - Squads Labs | Valuation |
investors |
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| Oct, 2021 | Amount | Seed - Squads Labs | 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 Squads Labs
Squads Labs has secured backing from 22 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Coinbase, Republic and Multicoin Capital. 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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Early-stage crypto projects in culture and consumer tech are funded.
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Founded Year | Domain | Location | |
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Reciprocal Ventures is focused on investing in crypto founders.
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Founded Year | Domain | Location | |
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Volt Capital is engaged in crypto-native venture capital investments.
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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 Squads Labs
| 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 - Squads Labs
| 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 |
Squads Labs Comparisons
Competitors of Squads Labs
Squads Labs 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 Consensys, Luno, Uphold, Coins.ph and BlockFi, 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 |
Developer of blockchain and web3 software platform
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| domain | founded_year | HQ Location |
Mobile app for storing and trading cryptocurrencies is utilized.
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| domain | founded_year | HQ Location |
App-based wallet and exchange platform for cross-border money transfers
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| domain | founded_year | HQ Location |
Digital wallet for Bitcoin assets
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| domain | founded_year | HQ Location |
Crypto trading, loans, interest accounts, and wallets are offered online.
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| domain | founded_year | HQ Location |
App-based trading and deposit solutions for cryptocurrency are provided.
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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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Frequently Asked Questions about Squads Labs
When was Squads Labs founded?
Squads Labs was founded in 2021.
Where is Squads Labs located?
Squads Labs is headquartered in Tortola, British Virgin Islands.
Who is the current CEO of Squads Labs?
Stepan Simkin is the current CEO of Squads Labs. They have also founded this company.
Is Squads Labs a funded company?
Squads Labs is a funded company, having raised a total of $17.2M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.5M, raised on Oct 28, 2021.
What does Squads Labs do?
Squads Labs was founded in 2021 and is headquartered in Tortola, United Kingdom. Operations focus on the fintech sector, particularly stablecoin technology. Services include a USD account designed for global businesses, a personal finance application for crypto savings and spending, infrastructure to support fintech development on stablecoin networks, and a multisig platform for managing Solana assets. These offerings aim to enhance financial accessibility through stablecoin rails.
Who are the top competitors of Squads Labs?
What products or services does Squads Labs offer?
Squads Labs offers Squads Platform and Fuse.
Who are Squads Labs's investors?
Squads Labs has 22 investors. Key investors include Coinbase, Republic, Multicoin Capital, Placeholder, and Collab+Currency.