Mark Cuban, Vladimir Tenev and Others Join Seashell in US$6 Million Seed Round

The consumer-first banking and investment platform promises an inflation resistant savings app

Vrisha Phrabhakaran

17 Jan, 2022

Mark Cuban, Vladimir Tenev and Others Join Seashell in US$6 Million Seed Round | BEAMSTART News

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Fintech startup Seashell created a buzz in the industry after announcing its US$6 million dollar seed round that was backed up by big names in fintech.

This include Mark Cuban, CEO of Robinhood Vlad Tenev, Polygon co-founder Sandeep Nailwal and more.

Seashell plans to create a consumer-first modern banking and investment platform.

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The company promises many enticing benefits for its app users, which includes:

  • Free sign-up
  • High yield (10%) and low risk at the user's end
  • Automatically generated money for users 24/7
  • Easy deposit & withdrawal
  • Bank-level security

Seashell’s investment plan to obtain high yields includes a diversified strategy of investing in both safe-haven assets like gold and investing in dollar-pegged digital assets that attract borrowers who are willing to pay higher interest fees.

Community Q&A

Daryl Hok, CEO of Seashell mentioned, "Higher interest rates exist, but they are hard to access for the average consumer."

Hok’s previous experience was a role as the chief operating officer at blockchain audit firm, CertiK.

Inflation is rising globally with the US dollar's inflation rate climbing 7% in 2021.

With the inevitable high inflation, the traditional consumer is losing their money’s value saved at a bank that generally provides low interest rate.

Mark Cuban said, "Seashell is a simple solution for people to be ahead of rising prices".

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