Blockchain fintech raises $14 million Series A, mostly in crypto

A blockchain financial infrastructure startup has raised $14 million in a Series A, including $11m worth in Bitcoin and the stablecoin USDT.

The raise for CloudTech will fund the rollout of an institutional-grade custody solution for digital assets, as well as expansion of a broader crypto-native financial ecosystem.

The funding came from several undisclosed investors.

Founded in 2021, with a team of 40, the Melbourne fintech’s digital finance services span counter (OTC) trading, stablecoin solutions, and CobWeb Pay, which converts crypto into Australian dollars for regular shopping.

Chief financial officer Mandy Jiang, who previously worked at ASX-listed business neobank Judo said the funding was central to delivering core infrastructure for the digital asset economy.

“Custody is critical for institutions entering this space, and we’re building a solution that combines blockchain’s strengths with the standards and safeguards expected in traditional finance,” she said.

The fintech’s custody platform will offer segregated wallets, end-to-end encryption, and transparent reporting.

“We’re applying the disciplines of traditional finance to the blockchain space, not just in technology, but in governance, transparency and control,” Jiang said.

While CloudTech didn’t reveal how much Bitcoin is received, the leading crypto coin has risen more than 5.5% in the last month and is now up more than 12% in the last six months, this week rising above US$110,000 again.