Zap, the crypto wallet which allows users to purchase Bitcoin instantly via the Lightning Network, raised $3.5M in April, filings show.
Zap, the Lightning startup behind a non-custodial Bitcoin wallet, has raised $3.5 million in a seed round in April.
As reported by Forbes on July 15, previously undiscovered filings by the US Securities and Exchanges Commission revealed Zap raised $3.5 million in the April seed round with investors including Green Oaks Capital and Morgan Creek Digital, co-founded by Bitcoin bull Anthony “Pomp” Pompliano.
What is Zap?
A non-custodial wallet, Zap stands out from others by enabling users to instantly purchase Bitcoin (BTC) using a US bank account via the Lightning Network.
Zap CEO Jack Mallers is the grandson of Bill Mallers, who helped found the Chicago Board of Exchange and the son of Bill Mallers Jr., who co-founded brokerage firm First American Discount Corporation.
Mallers has said Zap’s ultimate goal is make Bitcoin more accessible and “used for all that it has to offer by the masses.”
“Our users today don't ever know we're using Bitcoin when they're using dollars.