PayPal in talks to buy Israeli co Curv - reports

Curv founders CEO Itay Malinger and CTO Dan Yadlin.  / Photo: Netanel Tobias

Curv has developed a platform for managing cryptocurrencies in the cloud, which allows liquidity of assets while securing the digital currencies.

"Bloomberg" has named PayPal as the company, which is in talks to acquire Israeli digital asset security infrastructure developer Curv. Yesterday "Globes" reported that Curv was negotiating with an unnamed buyer to be acquired for more than $200 million, according to sources close to the matter.

"Bloomberg says, "The talks are early and could still fall apart, according to a person familiar with the matter, who asked not to be identified discussing internal deliberations."

CoinDesk was more definite and sees the acquisition price as being much higher, "PayPal is buying Curv for $500 million," a source from within the digital asset custody space told CoinDesk. "From where I’m hearing it, I’m pretty sure it’s true."

Curv was founded in 2018 within the Team8 foundry by CEO Itay Malinger and CTO Dan Yadlin. Team8 founder Nadav Zafrir serves as Curv's chairman. 

The company has raised $29.5 million to date and it raised $23 million in its most recent financing round last summer with investment from CommerzVentures, Coinbase Ventures, Digital Currency Group, Team8 and Digital Garage Lab Fund.

Curv has developed a platform for managing cryptocurrencies in the cloud, which allows liquidity of assets while securing the digital currencies.

If the deal is completed, it will be the third and largest exit for Team8, which was founded in 2014.

Published by Globes, Israel business news - en.globes.co.il - on March 3, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Curv founders CEO Itay Malinger and CTO Dan Yadlin.  / Photo: Netanel Tobias
Curv founders CEO Itay Malinger and CTO Dan Yadlin. / Photo: Netanel Tobias
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