Meow, a New York-based startup specializing in crypto-enabled corporate treasury solutions, has secured $22 million in a Series A funding round led by Tiger Global. Founded in 2021 by ex-Gemini employees, Meow provides institutional-grade cryptocurrency yield opportunities for corporate treasurers.
Key Highlights of Meow's Growth
- Funding Round: $22 million Series A led by Tiger Global, with participation from QED Investors, FTX, and others.
- Core Offering: Short-term, high-yield crypto loans for corporate treasurers via partnerships with institutional desks.
- Performance: Grew assets under management (AUM) to nearly $100 million in six months despite market downturns.
- Yield Potential: Offers up to 4% returns, outperforming traditional deposit accounts.
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How Meow Works: Bridging Crypto and Corporate Finance
Meow operates through a streamlined process:
- Cash Deposits: Accepts USD deposits from corporate clients via partner banks (Signature Bank and Silvergate).
- Institutional Lending: Allocates funds to pre-vetted institutional crypto desks for short-term loans.
- Yield Distribution: Returns generated yields to clients after deducting a service fee.
"Corporate treasurers have been sidelined from crypto due to compliance hurdles," said CEO Brandon Arvanaghi. "We provide a regulated gateway to this asset class."
Market Opportunity and Future Roadmap
Expanding Product Lines
Meow plans to leverage its new funding to:
- Develop stablecoin-based treasury products.
- Scale its team (currently nine employees) and marketing efforts.
- Enhance compliance infrastructure for institutional adoption.
Why Crypto for Corporate Treasuries?
- Higher Yields: Compared to traditional fixed-income instruments.
- Liquidity: Short-term crypto loans offer flexibility akin to money-market funds.
- Innovation: Stablecoins enable faster settlements and reduced counterparty risk.
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Investor Confidence in a Volatile Market
Tiger Global's investment signals confidence in Meow's niche despite broader crypto market declines. The deal was finalized without a traditional pitch deck, relying on Meow's traction and word-of-mouth referrals—a hallmark of Tiger’s recent early-stage bets.
FAQ: Meow’s Crypto Treasury Solutions
Q: How does Meow ensure the safety of corporate funds?
A: Funds are held with FDIC-insured partner banks, and loans are collateralized by institutional borrowers.
Q: What makes crypto yields more attractive than traditional options?
A: Crypto lending markets operate with higher volatility premiums, enabling competitive short-term returns.
Q: Is Meow suitable for small businesses?
A: Currently focused on mid-to-large corporate treasuries, with plans to expand offerings.
Q: How does Meow handle regulatory compliance?
A: Built by ex-Gemini compliance specialists, with adherence to U.S. money transmitter laws.
Q: What stablecoin products are in development?
A: Yield-generating instruments tied to USD-pegged stablecoins (details forthcoming).
The Road Ahead
Meow aims to become a household name in corporate treasury management within 12 months. "Crypto and treasuries are converging," Arvanaghi noted. "We’re building the infrastructure to power that future."
For institutions seeking yield in a low-interest environment, Meow’s crypto-integrated approach offers a compelling alternative. With Tiger Global’s backing, the startup is poised to redefine how businesses manage idle cash.