Serial entrepreneur and ex diplomat Trevor Traina raises $25 million for 'goof-proof' web3 superapp

Quick Take

  • Trevor Traina, a serial entrepreneur and the former U.S. ambassador to Austria, raised $25 million for a web3 superapp called Kresus.
  • The Series A round is led by Liberty City Ventures. Other backers include Franklin Templeton, JetBlue Ventures and Salesforces’ Marc Benioff. 

Serial entrepreneur Trevor Traina has raised $25 million to build Kresus, a web3 superapp for the everyday consumer that promises to be "entirely goof-proof."

The Series A round is led by Liberty City Ventures. Other investors in the round include JetBlue Ventures, Craft Ventures, Franklin Templeton as well as angel investors such as Salesforce founder Marc Benioff and the Winklevoss twins, who founded the crypto exchange Gemini, said the company in an email.

Traina, who is the son of shipping magnate and art collector John Traina, is a veteran in the startup space. He has founded five technology companies including IfOnly, an online marketplace that curates exclusive experiences which he sold to Mastercard in 2019, and StepUp Commerce, a service that aims to convert online shoppers to in-store customers which he sold to Intuit in 2006. Former U.S. President Donald Trump nominated Traina to be  the U.S. ambassador to the republic of Austria from March 2018 to January 2021.

Kresus's website describes the app, which hasn't launched yet, as "part exchange, part wallet and part guide."

The funds will be used for continuing to build out the app and enable hiring efforts and key partnerships, the company said.

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