Share this article
Coinbase Alum-Founded Turnkey Raises $30M Series B to Grow Engineering Team
The funding round was led by Bain Capital Crypto and included contributions from Lightspped Faction and Galaxy Ventures
Updated Jun 9, 2025, 2:30 p.m. Published Jun 9, 2025, 12:21 p.m.
What to know:
- Crypto wallet infrastructure company Turnkey has raised $30 million in Series B funding led by Bain Capital Crypto.
- Turnkey, which was co-founded by former Coinbase employees Bryce Ferguson and Jack Kearney, aims to help developers build user-friendly wallets using APIs.
- Turnley will use its new capital to grows its headcount, which currently sits at 35 employees.
Crypto wallet infrastructure company Turnkey has raised $30 million in Series B funding led by Bain Capital Crypto.
Turnkey, which was co-founded by former Coinbase employees Bryce Ferguson and Jack Kearney, aims to help developers build user-friendly wallets using application programming interfaces (APIs).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"If you want people outside of tech enthusiasts to use crypto, you need to make crypto wallets as easy and secure as popular payments apps like Venmo or CashApp," Turnkey said in an emailed comment to CoinDesk.
The company counts prediction market platform Polymarket, non-fungible token (NFT) marketplace Magic Eden and Stripe-owned stablecoin firm Bridge among its clients.
The funding also included contributions from Lightspeed Faction and Galaxy Ventures, who led Turnkey's $15 million Series A in April 2024.
Turnkey will use its new capital to increase its headcount, which currently sits at 35 employees. The firm is looking to expand its engineering, product, go-to-market and operations teams, according to a blog post on Monday.
The news was reported earlier by Fortune.
UPDATE (June 9, 14:20 UTC): Attributes story to blog post rather than Fortune. Also removes quote from Fortune article, replacing it with emailed comment from Turnkey.
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
