Swiss crypto outfit Amun amasses $4m funding
Swiss crypto-asset investments firm Amun has completed its first funding round of $4 million.
Along with the money, it has brought on board Adam Draper, founder of Boost VC; Graham Tuckwell, founder of ETFS Capital; Greg Kidd, co-founder of Hard Yaka; and four unnamed family offices. The latter includes American, Swiss and Middle Eastern corporations.
Amun offers a technology platform for creating crypto indices and issuing crypto products, in addition to listing, settling, and custody of physically-backed crypto products on public exchanges.
Last autumn/fall, the company listed HODL, the “world’s first” physically backed ETP (exchange traded product) based on five cryptocurrencies (BTC, ETH, BTC Cash, XRP and Litecoin).
“We are bullish on crypto in the long-term and look forward to working with such tech and finance luminaries to simplify investor access to the crypto asset class,” explains Hany Rashwan, CEO and co-founder of Amun.
Draper adds: “The world needs a company like Amun to make crypto as easy as buying a stock. Now that they were the first to do that – lots of people have made this claim but Hany and Ophelia Snyder, the co-founders of Amun, were the first to accomplish [this].”
The funds will be used to invest in its technical infrastructure and launch additional crypto-tracking exchange-traded products.
Boost VC is based in Silicon Valley. It is “famous” for some early investments in crypto projects such as Coinbase, Ethereum, Ledger and Tezos.
Hard Yaka, also in Silicon Valley, has made early investments in tech companies such as Coinbase, Robinhood, Ripple, and Square.
Amun is owned by its parent company, Amun Technologies, which is based in London.