When it seemed like the number of different wallets to hold your cryptocurrencies couldn't go any higher, the Israeli startup KZen raised $4 million in funding to get yet another one on the market. The list of investors participating in the round includes Benson Oak Ventures, Samsung Next, and Elron Ventures.
The new wallet app has not been unveiled to the public yet and is poised to launch later this month.
“We wanted for ourselves and for the world something that did not feel like a pre-AOL experience, that was incredibly superior in terms of security and simple to use,” said Ouriel Ohayon, the CEO of the startup and a former editor of the tech industry publication TechCrunch. “We wanted a solution that brings peace of mind and that did not force the user into compromising between convenience and security which is, unfortunately, the current state of affairs.”
Unlike many projects in the crypto space, KZen decided not to go for an ICO and raised money the conventional way from VC funds. “Thank god, we made the right choice,” Ohayon remarked.