ZenGo
“Can MPC-based self-custody become the default consumer crypto wallet — and is that the front door eToro needs to bridge investing and on-chain assets?”
Founded2018
HQTel Aviv, Israel
Total raised$24M
Latest roundSeries A, 2021
IndustryFintech / Crypto
The story
Founded 2018 as KZen, ZenGo pioneered consumer MPC-based crypto wallets as a safer alternative to seed-phrase wallets and custodial exchanges. Between 2019 and 2023 it evolved from a free consumer wallet to a tiered product (Zengo Pro) with legacy/inheritance features and a broader multi-chain footprint. In April 2026, ZenGo was acquired by eToro, becoming the wallet layer for eToro's global crypto/investment stack.
Product timeline
2018
Founded as KZen; building MPC-based self-custodial crypto wallet· pivot
2019
Launched ZenGo mobile crypto wallet using multi-party computation (no seed phrase)· banking
2020
Announced Visa debit card via Visa Fintech Fast Track program· card
2021
Raised $20M Series A led by Insight Partners· banking
2023
Launched Zengo Pro subscription with additional security features ($20/month)· banking
2025
Partnership with Onramper to expand fiat-to-crypto on-ramp coverage globally· banking
2026
Acquired by eToro· acquisition
The stack
3 layers disclosed in ZenGo’s embedded-finance stack
Card network
in the full report
Crypto
in the full report
Accounting gap: none
6 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.