Squads Labs Raises $10M Series A, Unveils Smart Wallet for Public Testing on iOS

Technology company Squads Labs, which aims to help businesses transact in and manage digital assets, raised $10 million in Series A funding led by Electric Capital. Squads has also unveiled a smart wallet aimed at individuals for public testing on iOS. The company already offers a Solana-based wallet for businesses. That has secured over $10 billion in value. The new wallet, Fuse, is designed to eliminate the need to remember seed phrases – streams of 12 to 24 random words for restoring access to a user's assets – instead using wallet recovery and 2FA capabilities. Squads plans to use its new funding to advance its smart account technology.

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