Coinbase Alum-Founded Turnkey Raises $30M Series B to Grow Engineering Team

June 9, 2025 – Turnkey, a crypto wallet infrastructure startup co-founded by former Coinbase engineers Bryce Ferguson and Jack Kearney, has secured $30 million in Series B funding. Led by Bain Capital Crypto, the round also saw participation from Lightspeed Faction and Galaxy Ventures, marking a strong vote of confidence in the company’s API-driven wallet solutions .

🔧 What Turnkey Does

Turnkey provides API tools to enable developers to build seamless, high-throughput crypto wallets—going beyond traditional “buy and hold” systems to support machine-based transactions, according to the co-founders.

📈 Growth Plans

With approximately 35 employees currently, Turnkey intends to channel its fresh capital into expanding its engineering team to accelerate product development.

💼 Key Clients

Turnkey counts platforms like Polymarket, Magic Eden, and Stripe-affiliated Bridge among its customers—highlighting the ability of its wallet infrastructure to support NFTs, stablecoins, and prediction markets.