Sock, a San Francisco, CA-based provider of a self-custodial crypto investment app, raised $2.8M in Seed funding.
The round was led by Haven Ventures, with participation from Designer Fund, Expansion, Spacecadet Ventures, Sunflower Fund and Olive Capital, as well as angels, including Tim Chen, Mike and Albert Lee, Dalpat Prajapati, and others.
The company intends to use the funds to expand operations and its business reach.
Founded by tech veterans Rick Johanson, Bryan Levine and Chris Titterton in 2022, Sock is a mobile investing app that helps casual crypto investors build wealth with crypto safely. It makes it simple for users to automatically protect their investments through stop-loss and limit orders and provides insights to empower users to invest wisely. Taking a stance against high-risk trading and behaviors, Sock does not support trading tokens that fail to meet its stringent criteria, such as meme coins or unrealistic APYs. Instead, it empowers users to “do the research” by using Sock Score, which allows investors to understand a token’s fundamentals. All tokens on Sock come with an A-F risk grade, giving Sock’s customers peace of mind about their investments based on their risk tolerance and financial goals.
With this, Sock customers can transact without paying network fees (gas), safeguard investments by setting upper or lower thresholds for token sales to mitigate potential losses and enable account recovery – even if they lose their keys – so that users never lose access to their funds.
It is now available for download on iOS and Android.
FinSMEs
07/11/2023