Proof-of-Funds Company Raises Seed Funding for Aggressive Infrastructure Development

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Hoseki is a Proof-of-Funds service that builds infrastructure in order to help investors verify and use their funds in ways that were previously inaccessible. Their app will allow for Proof-of-Funds in order to be considered for mortgages, car loans, personal loans, residency, and credit checks.

The company recently announced the close of its seed investment which was led by Stillmark, an early stage venture capital firm for Bitcoin companies. Additional investors included in this round are: Ten31, Castle Island Ventures and Avon Ventures, a venture fund affiliated with FMR LLC, the parent company of Fidelity Investments. Hoseki also raised an undisclosed amount of pre-seed funding from Castle Island Ventures.

Founder and CEO Sam Abbassi stated that “Hoseki provides a service that will enable unprecedented growth in the bitcoin economy by giving easy proof of ownership to anyone that holds Bitcoin. We are excited for this next step in accomplishing our company’s mission.”

Hoseki was founded in 2021 and is the first digital asset attestation service in the space. The company currently has more than 50 partnerships with traditional lenders and mortgage brokers that will accept Proof-of-Assets documentation from them. Firms like Ledn and Casa have also entered partnerships with Hoseki.

Based on Hoseki’s research, mortgage loans in particular are increasing in consumer interest. At this time their app is unavailable for the general public but the company plans to launch their services later this year.

The funds are planned to be used for rapidly accelerating the development of its technology and product infrastructure. The company states that this is due to an increase in market demand for Bitcoin and cryptocurrency attestation services. Additionally, hiring for engineering and design roles will be a large focus for the company in the near future.

Hoseki will first launch a private alpha version of the app and has a public beta phase scheduled to launch in Q3 2022.

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Deniz Saat is an IT services specialist, technical writer and editor for BTC Times. His mission is to onboard as many people as possible into the Bitcoin overlay through education and content creation.



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