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§ Private Profile · Mountain View, CA, USA
Digital asset wealth management platform providing trading, lending, and wealth management for institutional and private clients.
Mountain View, California-based Abra provides digital asset wealth management, cryptocurrency trading, prime brokerage, and lending services for institutional investors, family offices, and private clients. The financial technology platform historically managed over $1.5 billion in peak assets under management and served approximately 2 million retail customers before strategically pivoting its operations toward high-net-worth individuals and corporate treasury accounts. Operating as an SEC-registered investment advisor, the company generates revenue through trading spreads, interest margins, and advisory fees, recently announcing a $750 million valuation through a planned special purpose acquisition company merger. The enterprise is backed by over $115 million in total venture funding from prominent institutional investors including American Express Ventures, Foxconn Technology Group, Blockchain Capital, and the Stellar Development Foundation. Abra was originally founded in 2014 by former Goldman Sachs and Netscape executive Bill Barhydt.
Abra has raised $98.0M across 5 funding rounds.
Key people at Abra.
Abra was founded in 2014 by Bill Barhydt (Co-Founder and CEO).
Abra has raised $98.0M in total across 5 funding rounds.
Abra is a global digital asset platform specializing in prime services, wealth management, and cryptocurrency solutions for institutions, high-net-worth individuals, family offices, hedge funds, and venture capital firms.[3][4] It offers products like Abra Private (SEC-registered investment advisory), Abra Prime (prime brokerage for trading, lending, and derivatives), and Abra Treasury (corporate digital asset management), focusing on DeFi expertise to bridge on-chain and off-chain finance with features such as staking, yield generation, crypto-backed loans, and OTC trading.[2][3][4] Initially a retail cryptocurrency wallet for buying, storing, and sending assets, Abra has evolved into an institutional-grade provider, no longer offering retail app services in the US and UK, with a $50,000 minimum for premium features and support for 100+ cryptocurrencies across 150+ countries.[1][4]
The platform solves key problems in digital asset management, including borderless transactions, risk-managed exposure to volatile markets, and integration of crypto into traditional portfolios via fiduciary separate accounts.[3][5] Its growth includes raising over $85M by 2021 (Series C led by investors like American Express Ventures and Blockchain Capital), recognition as a Forbes next Billion-Dollar Startup, and a shift from remittances-focused P2P payments to sophisticated DeFi and TradFi hybrid services.[2][5]
Abra was founded in 2013 (with some sources noting 2014) in Silicon Valley by Bill Barhydt, a former fixed income analyst at Goldman Sachs and director at Netscape, who envisioned a decentralized P2P payment system inspired by Bitcoin to enable cheap, intermediary-free global money transfers—particularly remittances.[1][2] Barhydt's insight targeted inefficiencies in traditional services like Western Union, leading to an initial product test in the Philippines before global launch in 2017.[1]
Early traction built on Bitcoin's distributed validation for cross-border micropayments, expanding from a simple crypto wallet to a full exchange and services platform.[1][2] Pivotal moments include 2018 Wall Street Journal recognition as a "Top 25 Tech Company to Watch," 2021 Series C funding of $55M (total $85M+), and Forbes' Billion-Dollar Startup nod, alongside launching the "Money Talks" YouTube series interviewing crypto leaders like Vitalik Buterin and Michael Saylor.[2] By the mid-2020s, Abra had matured under Barhydt and executives like Marissa Kim (head of asset management), Bob Wallden (head of trading), and Daryl Puryear (CTO), shifting from retail/HNW origins in 2016 to institutional focus amid regulatory settlements, such as a multistate agreement to return crypto assets.[5][6]
Abra rides the crypto institutionalization wave, capitalizing on Bitcoin's maturation as a corporate treasury asset (e.g., MicroStrategy parallels) and DeFi's growth amid fiat inflation, public debt, and global instability—positioning digital assets as "must-have" hedges rather than speculation.[3][5] Timing aligns with post-2021 regulatory clarity and mainstream adoption, like Trump's TRUMP token and HNWI demand for on-chain transparency/borderless finance.[5]
Market forces favoring Abra include TradFi's crypto pivot (e.g., BlackRock ETFs), rising corporate treasuries holding BTC, and DeFi yields outpacing TradFi amid high interest rates.[3][4] It influences the ecosystem by enabling RIAs, family offices, and firms to offer compliant crypto exposure, fostering mainstream wealth integration and reducing reliance on centralized exchanges—while navigating challenges like US regulatory scrutiny via institutional pivots.[2][4][6]
Abra is poised to expand as on-chain finance dominates, with trends like AI-driven trading, tokenized real-world assets, and nation-state BTC adoption amplifying demand for its prime/DeFi hybrid model.[3] Expect deeper RIA partnerships, treasury tools for more corporates, and yield innovations amid volatile cycles, potentially scaling AUM via global non-US growth despite high minimums.
Its evolution from remittance app to institutional powerhouse underscores resilience—tying back to Barhydt's original vision of borderless money, now realized through trusted, risk-hedged digital abundance.[1][3]
Key people at Abra.
Abra was founded in 2014 by Bill Barhydt (Co-Founder and CEO).
Abra has raised $98.0M in total across 5 funding rounds.
Abra's investors include Blockchain Capital, IGNIA Partners, 305 Ventures, Accelerator Ventures, American Express Ventures, Arbor Ventures, Arrive, B Capital Group, Better Tomorrow Ventures, Canaan Partners, Catapult Capital, Citi Ventures.
Abra has raised $98.0M across 5 funding rounds. Most recently, it raised $55.0M Series C in September 2021.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Mar 1, 2023 | LI.FI | $18.0M Series A | CoinFund, Superscrypt | Element Ventures, Third Prime, Charlie Songhurst, Nicolas Julia, Bloccelerate, Circle, Factor, L1 Digital, Perridon, Theta Capital, Three Point Capital |
| Sep 1, 2022 | Credix | $11.0M Series A | Thomas Harris, BEN Forman | Ricardo Marino, Circle Ventures, Claure Group, Thomas Bohner, Fuse Capital, MGG Investment Group, Michael Nicklas, Victory Park Capital |
| Jul 1, 2022 | Quadrata | $8.0M Seed | Haseeb Qureshi | 10T Holdings, NGC Ventures, Penglan, Wave Financial, Chris Kelly, Balaji S., Mathieu Nouzareth, Ryan Selkis, Wilson LEE, Zeneca, August Capital, Fellows Fund, Kevin Farrelly, GreatPoint Ventures, GSR Ventures, Orange DAO |
