10th June 2025 – (Boston) Turnkey’s CEO, Bryce Ferguson, revealed on Monday that Bain Capital Crypto spearheaded the investment round. Notable participants in this funding include Sequoia Capital, Lightspeed Faction, Galaxy Ventures, Variant, and Wintermute Ventures. This latest investment elevates Turnkey’s total funding to over $50 million.
Established three years ago by CEO Ferguson, a former Coinbase Custody executive, Turnkey specializes in crafting key management infrastructure tailored for crypto applications. The company’s core mission is to deliver secure, scalable, and developer-centric tools, aiming to overcome the limitations of traditional custodial systems.
By leveraging Trusted Execution Environments (TEEs) and adaptable, modular APIs, Turnkey asserts that its technology offers cryptographically verifiable security. The platform is engineered for enhanced scalability and user accessibility, removing the burden of wallet and seed phrase management for end-users.
Currently, Turnkey’s infrastructure drives over 50 million embedded wallets and facilitates millions of transactions on a weekly basis for clients in diverse sectors such as decentralized finance (DeFi), payments, and consumer applications, which include Bridge, Alchemy, Magic Eden, and Polymarket.