Digital payment processor Paypal has agreed to acquire Curv, an Israel-based digital asset security services provider backed by corporate investors CommerzBank, Monex Group, Coinbase and Digital Garage.
Founded in 2018, Curv has created a digital wallet platform that enables users to store cryptocurrency and other digital assets. The deal valued it at less than $200m, a person familiar with the matter told CNBC.
Team8 and Digital Currency Group co-led a $6.5m seed round for the company in early 2019, with investments from financial exchange operator Monex Group, Flybridge Capital, Jump Capital and Liberty City Ventures.
Curv raised $23m in a July 2020 series A round featuring CommerzVentures, Coinbase Ventures and DG Lab Fund, subsidiaries of financial services firms CommerzBank, digital currency exchange Coinbase and internet company Digital Garage respectively.
Team8 and Digital Currency Group also participated in the July round. Investment firm Franklin Templeton and venture capital firm Illuminate Financial Management invested an undisclosed amount in the company three months later.