P
Pillow
Helps to earn up to 18% interest on crypto with a single tap
About Pillow
Pillow (pillow.fund) was a Singapore-based digital asset management platform founded in 2021 by Arindam Roy, Rajath KM, and Kartik Mishra. The company aimed to simplify cryptocurrency investing for users, particularly in emerging markets, by removing complexities such as gas fees and bridging. The founders, who had backgrounds in technology and product management, identified a gap in the market for a user-friendly platform that could make Decentralized Finance (DeFi) accessible to a broader audience.
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The platform allowed users to invest and save in various cryptocurrencies, including Bitcoin, Ethereum, and US Dollar-backed stablecoins like USDC and USDT. Pillow's core service was to generate returns on these digital assets. The company's business model involved investing user funds into a portfolio of DeFi protocols selected by its research team. Pillow would then pass a majority of the yield generated from these investments back to the users as returns, while retaining a portion as revenue. The platform served a global user base, reaching over 75,000 users across more than 60 countries, with a significant focus on expanding into markets like Nigeria, Ghana, and Vietnam.
Pillow successfully raised a total of $21 million in two funding rounds. This included a $3 million seed round in early 2022, led by Elevation Capital, and a subsequent $18 million Series A round in October 2022, co-led by Accel, Quona Capital, Elevation Capital, and Jump Capital. Despite its initial growth and successful fundraising, Pillow ceased operations on July 31, 2023. The founders cited regulatory uncertainty and a challenging business environment as the primary reasons for the shutdown.
Latest news
Press, funding announcements and product moves mentioning Pillow.
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES A✓Equity / VC | Oct 2022 | $18M | $72M | Mike Rosengarten · Kush Taneja · Paul Finney · Accel | ↗ |
| SEED✓Equity / VC | Feb 2022 | $3M | $12M | Elevation Capital | ↗ |
Growth signals
Latest recorded traffic for Pillow is 1.1K monthly website visits, up 29.4% over the last three months. Pillow's team grew 4.5% over the past year.
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed1 investor entered at this stage
Elevation Capital
Series A10 investors entered at this stage
Accel
Quona Capital
Jump Capital- MRMike Rosengarten
- KTKush Taneja
- PFPaul Finney
Farid Ahsan- SJSambhav Jain
- SMSuhas Motwani
Brijesh Bharadwaj
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Pillow on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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