Pillow is an all-in-one platform designed to help novice users save, spend and invest in crypto by simplifying onboarding, KYC and transaction flows. The app supports seven digital assets (Bitcoin, Ethereum, Solana, Polygon, Axie Infinity, USDC and USDT) and plans to expand to more than 20 assets in the coming months. New users sign up with email, complete KYC (live selfie and national ID), receive short lessons on asset risks, and can deposit from external wallets or buy crypto via local on-ramps where Pillow has partnerships. Pillow generates yields for users via liquid staking, wrapped Bitcoin deployed to DeFi protocols, and stablecoin deployments to DeFi; example effective rates cited include ~4.75% (Solana), 8.5% (Polygon), 1.52% (Bitcoin), 5.5% (USDC/USDT) and 3.51% (Ethereum). The company says it derives income exclusively from DeFi instruments (no derivatives trading or unsecured institutional lending) and keeps a small percentage of the spread with another portion allocated to yield reserves. Pillow reports more than 75,000 users across 60+ countries, a 300% user-base growth since the start of the year and a 5x increase in assets under management; its largest user base is in Nigeria with significant presence in India, Ghana, Vietnam and growing users in Brazil, the Philippines and Sri Lanka. The startup targets retail investors (minimum investments around $5) and plans to use product and partnership expansion — including additional fiat on-ramps, swaps, and tokenized real-world assets — as it scales. Pillow provides a platform that generates yields on crypto assets by investing in curated, actively managed DeFi strategies designed to offer downside-protected interest. The product aims to simplify DeFi: users can invest in one click without worrying about gas fees, underlying chains, or tokens. Supported assets and strategies target popular crypto including BTC, ETH, USDC and USDT. The company plans to use the new funding to build alpha-generating DeFi strategies, accelerate global expansion, grow its user community, and build the brand to make DeFi accessible worldwide. Pillow is available on Google Play and the Apple App Store. The company was founded in 2021 and is based in Singapore.

Total raised

$21M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2022