Squads

Established in 2021, based in Tortola, British Virgin Islands, founded by Stepan Simkin, Deni Ershtukaev, and Sean Ganser Squads operates as a financial technology company offering products and APIs for the stablecoin economy, including multisignature wallets, business accounts, and payment infrastructure. The company focuses on enabling secure, programmable financial services for businesses, developers, and individuals using blockchain technology. The company develops tools to help organizations manage digital assets and decentralized operations securely. In April 2026, Squads raised USD 18 million in venture funding led by Solana Ventures, with participation from Haun Ventures, Jump Crypto, and Robot Ventures.

Returning investors Coinbase Ventures, Collab+Currency Management, Electric Capital, L1D, Placeholder. The firm develops and offers smart contract wallets and a library of protocols built on the Solana blockchain for developers and individuals that enables users to manage their treasuries, programs, tokens and validators. The firm’s product line includes Squads for teams and developers and Fuse for secure individuals. The company generates revenue through its fintech infrastructure products, including API services for payments, accounts, and financial operations, as well as enterprise solutions for digital asset management.

It also monetizes through usage of its platforms such as multisig wallets, business financial tools, and developer integrations.