Overview
- Squads raised $18 million in a strategic round led by Solana Ventures, bringing total funding to $42.9 million with backers including Coinbase Ventures, Haun Ventures, L1D, Collab+Currency, Electric Capital, Placeholder, Jump Crypto, and Robot Ventures.
- Known for its multisig smart accounts on Solana, Squads provides the wallet permissions and treasury controls many teams use, a role investors say secures over $10 billion and makes it core infrastructure.
- The company will use the capital to expand Altitude, a business account that moves stablecoins on Solana for payroll, vendor payouts, and cash management with instant, low‑cost settlement at any hour.
- Altitude keeps treasury in stablecoins, applies sanctions and anti‑money‑laundering checks with KYB and transaction monitoring, and reaches bank rails through licensed providers such as Bridge, MoonPay, Infinite, and Due.
- Since launching publicly in December 2025, Altitude has processed more than $200 million for exporters, agencies, crypto firms, and remote teams, while coverage says the raise boosts Solana’s payments push with little short‑term impact on SOL without stronger stablecoin usage data.