TipLink Raises $6 Million in Funding for Distribution Mechanism

Upcoming project TipLink announced that they have raised $6 million in funding, led by Sequoia and Multicoin Capital, to build "one of the most important distribution mechanisms in crypto."

Being built on Solana, the platform lets users send and receive crypto with just a link or QR code. The API enables developers to create TipLinks for free, supporting any asset on Solana. Senders need to use their Solana wallet to make a TipLink URL by depositing an asset, and then the receiver can use the link to accept the asset. Receivers do not need a wallet, and can even accept with their Gmail account.

"The viral potential of the idea was immediately obvious, and we became convinced that TipLink had a good shot at being the product that would bring the next billion people to web3," said Sequoia about TipLink.

Since the link acts as a wallet, users do not need to be familiar with crypto to accept the assets providing a mainstream experience for everyone, and making it easier to onboard users.

Additional investors include Assymetric, Big Brain VC, Circle Ventures, Karatage, Monke Ventures, Paxos, Solana Ventures, and angels Vinny Lingham, Liu Jiang, and Sarah Guo.