Turnkey Raises $15M in Series A

Turnkey, a NYC-based provider of wallet infrastructure for crypto developers, raised a $15M Series A funding.

The round was led by Lightspeed Faction and Galaxy Ventures, with participation from Sequoia, Coinbase Ventures, Alchemy, Figment Capital, and Mirana Ventures.

The company intends to use the funds to expand operations and its development efforts.

Co-founded by Bryce Ferguson and Jack Kearney, Turnkey offers a wallet infrastructure providing low-level primitives for teams building on-chain experiences. Founded by the team that built Coinbase Custody, Turnkey is empowering applications across a wide range of use cases, from wallets-as-a-service to programmatic backend crypto automation. The product suite enables developers to build anything that involves a wallet or cryptographic transaction, and already powers some of the best developer tools and applications in the industry, including Alchemy, Dynamic, Goldfinch, Halliday, Thunder Terminal, and Kinto. These companies have integrated Turnkey to provide embedded and smart wallet services, biometric passkey logins, and seamless onboarding experiences for their users.

By leveraging a novel security framework, the company achieves 50-100ms signing latency for millions of wallets, all with transaction-based pricing that’s designed for scale.