Starlight

Starlight

Financial technology for cryptocurrency transactions

About Starlight

Simplify's Rating
Why Starlight is rated
C
Rated D+ on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Fintech

Crypto & Web3

Company Size

11-50

Company Stage

Seed

Total Funding

$10M

Headquarters

Jersey City, New Jersey

Founded

2021

Overview

Starlight offers a financial technology platform that facilitates transactions in the cryptocurrency market through custodial and non-custodial wallet services. It partners with established financial institutions like Zero Hash to ensure security and compliance, allowing users to manage their digital assets effectively. Starlight differentiates itself by providing a choice between different wallet types and generating revenue through transaction fees and future virtual card services. The company's goal is to bridge the gap between cryptocurrency and traditional finance, making it easier for users to manage and spend their digital assets.

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Simplify's Take

What believers are saying

  • Starlight raised $5 million in seed funding in April 2023.
  • Integration with DeFi platforms could enhance user experience and service offerings.
  • Growing trend of crypto payroll services presents potential expansion opportunities.

What critics are saying

  • Increased competition from companies like Fireblocks and Anchorage.
  • Regulatory scrutiny on crypto services could impact Starlight's operations.
  • Cryptocurrency market volatility poses risks to Starlight's revenue streams.

What makes Starlight unique

  • Starlight offers both custodial and non-custodial wallet services for flexibility.
  • Partnerships with Zero Hash and FDIC-member banks ensure compliance and security.
  • Starlight's all-in-one platform simplifies crypto asset management for businesses.

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Funding

Total Funding

$10M

Above

Industry Average

Funded Over

1 Rounds

Notable Investors:
Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Above Average

Industry standards

$3.3M
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood
$5M
Starlight

Growth & Insights and Company News

Headcount

6 month growth

-4%

1 year growth

-4%

2 year growth

15%
Crypto World Times
Oct 14th, 2023
Starlight Crypto Exchange Latest News Updates

In April 2023, Starlight launched its new margin trading platform.

The Block
Mar 7th, 2023
The Block: Web3 startup Starlight debuts corporate cards for crypto firms: Exclusive

Starlight raised $5 million in seed funding in the same month — a round which was co-led by Abstract Ventures and A* Capital with participation from Brevan Howard.

PYMNTS
Feb 9th, 2023
Starlights Taps Zero Hash To Let Customers Buy And Sell Crypto

Financial operating system Starlight has turned to Zero Hash to help its customers trade cryptocurrencies. Starlight, which markets itself to web3 teams, announced the partnership with the B2B2C crypto infrastructure platform in a news release Thursday (Feb. 9). The company has embedded Zero Hash’s platform into its system to help corporate customers who “are digitally native, but new to web3,” buy and sell cryptocurrencies

Starlight
Dec 2nd, 2022
Announcing Our $5M Seed Round

We're excited to share the next chapter of Starlight.

Yahoo Finance
Aug 11th, 2022
Starlight shoots for the moon, aiming to build the Brex of crypto

New York-based Starlight aims to simplify the process for onboarding companies into crypto. Its product allows companies to set up a crypto wallet and track and manage their digital assets on an ongoing basis, all in one place, co-founder and CEO Grey Nguyen told TechCrunch. Nguyen and co-founder Ben Yang, now CTO at Starlight, left jobs at other tech companies to participate in a fellowship for pre-seed founders hosted by South Park Commons last year.

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