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KZen raises $4 million to bring sanity to crypto wallets

KZen, a company run by former TC editor Ouriel Ohayon, has raised $4 million in seed to build a “better wallet,” obviously the elusive Holy Grail in the crypto world. Benson Oak Ventures, Samsung Next, Elron Ventures invested. Ohayon, who has worked at Internet Lab and founded TechCrunch France and Appsfire, wanted to create an easy-to-use crypto wallet that wouldn’t confound users. The company name is a play on the Japanese word kaizen or improvement and it also points to the idea of the zero-knowledge proof. Omer Shlomovits, Tal Be’ery, and Gary Benattar are deep crypto researchers and developers and helped build the wallet of Ohayon’s dreams. “We wanted something that did not feel like a pre-AOL experience, that was incredibly superior in terms of security, and simple to use,” he said. “We wanted a solution that brings peace of mind and that did not force the user into compromising between convenience and security which is, unfortunately, the current state of affairs. We quickly realized that this mission would not be possible to achieve with the same tools and ideas other companies tried to use so far.” The app is launching this month and is being kept under wraps until then. Ohayon is well aware that the world doesn’t need another crypto wallet but he’s convinced his solution is the best one. “The market does not lack solutions,” he said. “On the contrary, there are software wallets, hardware wallets, paper wallets, vaults, hosted custody. But there is no great solution. To be able to use a crypto wallet you either need a good dose of Xanax or a master’s degree in computer science or both, unless you want to depend on a central entity, which is even worse as the news are reminding us weekly.” We’ll see as they use the cash to launch a crypto wallet that anyone – not just Xanax-eaters – can use.

Taxify is entering the e-scooter game

Estonian ride-hailing company Taxify will compete with Bird and Lime in Europe with its new brand of e-scooters, called Bolt, launching in Paris on Thursday. The company has rolled the scooter sharing service into its mobile app, which has attracted 10 million users in 25 countries since it launched in August 2013. A spokesperson for the company told TechCrunch it plans to release scooters in several other European and Australian cities where their app is already established, but will also launch in new markets where they’ve been unable to offer ride-hailing services because of regulatory roadblocks, including Germany and Spain. As of now, Taxify has no plans to scoot into the US market. “One in five Taxify rides are less than 3 km, which is the perfect distance to cover with an electric scooter,” Taxify CEO and co-founder Markus Villig said in a statement. “It’s likely that some of our ride-hailing customers will now opt for scooters for shorter distances, but we’ll also attract a whole new group of customers with different needs. This means we’ll be able to help more people with their daily transportation problems.” A Bolt scooter ride will cost 15 cents a minute, with a minimum fare of €1. Just like other e-scooter startups, you unlock the GPS tracked scooters by scanning the QR-code on the scooter using the Taxify app. Taxify will collect the scooters in the evenings for recharging. Lime e-scooters went live in Paris at the end of June. About a month later, Bird’s fleet did the same, rolling into Paris and Tel Aviv as part of its international launch. GoBee Bike, Obike, Ofo and Mobike — all dockless bike providers — have also launched in Paris. GoBee has since exited after failing to compete with heavyweights like Mobike, which is owned by the multi-billion dollar Chinese company Meituan. Taxify, for its part, is a favorite among private investors. In May, the company brought in $175 million from Daimler, Didi Chuxing and others. The financing brought the company to the $1 billion valuation mark, where it joined fellow ride-hailing giants Lyft, Uber, Careem and more in the unicorn club.…

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