Singapore-based crypto investment platform Pillow has raised an investment of $18m in a Series A funding round.

A group of firms, including Accel, Quona Capital, Elevation Capital and Jump Capital have jointly led the round.

Pillow plans to use the fresh infusion to speed up the adoption of crypto-based solutions by investors in emerging markets.

Pillow CEO Arindam Roy said: “At Pillow, we aspire to create and reward a culture of disciplined personal finance, including savings and investments powered by access to digital assets, that enable young, hardworking, ambitious people to take control of their finances, achieve life goals and work towards financial freedom.

“We’re creating a suite of high-quality, secure, and transparent financial products that will grant our users access to global economic opportunities and let them take control of their financial future.”

Pillow was established last year by Arindam Roy, Rajath KM and Kartik Mishra.

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The company is said to have over 75,000 users in more than 60 countries across the globe.

According to the firm, its solutions help the users to take decision on their finances as well as deal with inflation and growing costs of living.

Pillow’s solutions include crypto investing, crypto savings, crypto payments, along with other financial services.

Its Pillow app is designed to help the users to invest and save in US Dollar-enabled stablecoins, in addition to various cryptocurrencies, such as Bitcoin, Ethereum, among others.

So far this year, Pillow has increased its user base by 300%. Its assets under management also grew five times, noted the firm.

The company has also strengthened its presence in Nigeria, Ghana, and Vietnam and other geographies.