Share this article
Web3 Infrastructure Startup Portal Raises $5.3M
The company emerges from stealth with a roster of backers, including Katie Haun’s investment firm.
By Brandy Betz
Updated May 9, 2023, 4:09 a.m. Published Feb 28, 2023, 4:00 p.m.
Portal, a Web3 wallet infrastructure startup, has raised $5.3 million in a funding round that included Slow Ventures and Haun Ventures, the venture capital firm founded by Andreessen Horowitz alum Kaite Haun, according to a press release provided to CoinDesk.
The funding round comes during a particularly harsh crypto winter landscape that has taken a toll on venture capital and other investments into the industry, which were down 91% year over year in January. Infrastructure projects emerged as one of the strongest sectors during the month.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
San Francisco-based Portal offers wallet infrastructure and a decentralized application (dapp) store that enables projects to become a Web3-enabled app. The developer kit helps Portal partners easily connect to protocols and dapps either directly or from a mobile or desktop browser. Portal’s embedded wallet uses multi-party computation (MPC), a type of cryptography that removes the need for complicated seed phrases – a hurdle for non-crypto native users – without compromising security.
"Web3 is fundamentally transforming every part of our lives - from how we make payments and access financial services to how we manage our data and assets in an increasingly connected world," said Slow Ventures partner Will Quist in the press release. "However, the barriers to access this emerging ecosystem are high - for both enterprises and consumers alike. Portal has built transformative infrastructure to onboard the next wave of users into web3."
Other backers in the round were Acrew Capital, Chapter One and a number of angel investors, including William Hockey (co-founder of fintech company Plaid), Henrique Dubagras (co-founder of corporate credit firm Brex), and Diogo Monica, founder of institutional crypto platform Anchorage Digital.
Portal was co-founded by CEO Raj Parekh, who previously directed Visa’s global crypto product division. The other founders bring a range of security engineering experience with Chief Technology Officer David Scrobonia having worked at Web2 consumer data platform Segment, Brex alum Parsa Attari and Rami Shahatit, who previously worked at fintech Blend.
Read more: What Are VCs Funding After FTX? More Decentralized Infrastructure
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
