[Funding alert] Crypto wallet Leap announces $3.2M private sale backed by CoinFund and Pantera Capital

Leap Wallet, a non-custodial Terra wallet, has announced a $3.2 million private sale. The funding was supported by CoinFund, Pantera Capital, and firms including Arrington Capital, Accel, and Terraform Labs.

Founded in 2021 with an intention to build products that are accessible on the Terra blockchain, Leap also works as a browser extension that supports asset transfers, non-fungible token (NFT) trades, and decentralised finance (DeFi) applications across the Terra blockchain.

Founder Sanjeev Rao said “Leap Wallet was created to give users of the Terra blockchain an all-encompassing application that allows them to fully utilise the offerings of the ecosystem.” 

“By prioritising ease of use and safety, every step of our development process has kept our users front of mind,”he added.

The firm intends to use the proceeds from the sale to expand the team in the fields of engineering and design and product development.

Austin Barack, Partner at CoinFund, said, “The Leap team is building a home for all of the tools that users need to transact on the Terra blockchain. The simple platform and wide array of offerings enhance user experience significantly. The sheer number of applications necessary to fully immerse oneself in the ecosystem can be daunting for new users - Leap Wallet is solving that issue.

Since Leap is a non-custodial wallet, it does not have the access to funds and does not retain users' private keys. It was built to provide users security against scams and phishing attacks.

The firm plans to create a scalable Dapp-store that will enable developers to create in-wallet mini-apps that do not require permission. Leap has also announced the launch of its iOS & Android apps.