Web3 startup Salto X raises €5.2M for its tokenized stock options solution
Salto X, a startup based in Ukraine, Estonia, and Latvia, has raised a €5.2 seed investment. The round was led by the Nordic VC ByFounders, Berlin-based crypto VC Blockwall, New York-based Box Group, crypto fintech company 3Commas, and angel investors such as Liu Jiang (ex-Sequoia GP) and Alex Gluchkowski (founder of ZkSync).
- Salto X was co-founded in 2021 by Ragnar Sass, who has also founded Estonian unicorn Pipedrive and coworking hub network Lift99, Tanya Chaikovska, who serves as a CEO at Lift99 in Kyiv, Krists Avots, and Elise Sass.
- Salto X is aimed to build a remote-friendly alternative to stock options for European companies. Its solution gives transparent access to equity compensation to contributors regardless of geography.
- How it works: contributors receive NFT certificates, valid for the cliff period. The smart contract automatically and continuously executes token transfers upon vesting. These tokens can be cashed out in case of full or partial exit or sold to other parties after vesting.
“Our goal is helping founders to build more global remote companies, where every single employee will receive their fair share of company success. Salto X team has been a remote company from day 1. Our team is divided between Estonia, Latvia & Ukraine; so we know the pain very personally,”Salto X CEO Ragnar Sass says.
- Currently, Salto X employs 15 people and plans to double the team in 2022. It is now hiring and is looking for a Graphic and Motion Designer, Creative Copywriter, and Customer Success. More details are provided on the startup’s website.