Chicago startup EarlyBird wants to help families set up investment accounts for their children right from birth. Now those investment accounts can include Bitcoin and other cryptocurrencies with a new feature the startup rolled out this week.
EarlyBird announced the launch of EarlyBird Crypto, which gives parents the ability to add Bitcoin and Ethereum to the portfolio they manage for their child. Like the startup's traditional stocks and ETF options, family members and friends can easily contribute crypto to the child's account.
The new feature comes after the startup last year raised $4 million in a seed round led by Reddit co-founder Alexis Ohanian's Seven Seven Six. Other investors included Gemini's Frontier Fund, the venture arm of Gemini, a crypto exchange owned by Tyler and Cameron Winklevoss. Gemini is powering EarlyBird Crypto.
Since it launched in December 2020, EarlyBird says it has grown to "tens of thousands" of users. It allows parents to set up an account in minutes, set recurring investments, and invite others to make contributions. Friends and family can also send a video message and photos to accompany their financial contribution.
Led by founders Jordan Wexler and Caleb Frankel, EarlyBird was one of Chicago Inno's 22 startups to watch in 2022.
Other EarlyBird investors include Network Ventures, Chingona Ventures, NBA Player Thaddeus Young's Reform Ventures, and Alex Lieberman, the co-founder of Morning Brew.
