Algorand Foundation Brings On Pera Wallet To Accelerate Ecosystem Growth

September 6, 2023

Written by: Algorand Foundation

September 6th, 2023 – Algorand Foundation, Borderless Capital, Arrington Capital, and DWF Labs are investing in Algorand’s most popular wallet. With Pera Wallet as the main gateway to onboard users to Algorand, this move will enable the Foundation to focus more heavily on user growth and have purview of a full-funnel user journey. 

Pera is an open-source, self-custodial wallet that allows users to store, buy and swap on the Algorand blockchain safely. The wallet began as Algorand Wallet in 2019 and was then relaunched as Pera in 2022. Pera is extremely easy to use and offers an exceptional UX, making it simple for users to gain access to Algorand. Pera has seen over one million new wallet app downloads so far in 2023. 

The role of the Foundation is to foster the growth and adoption of the ecosystem with the necessary tools, support, and infrastructure for success. Pera is a critical component of that infrastructure, and therefore the Foundation accepted the role of supporting it on a go-forward basis in partnership with Hipo. The aim is to give Pera the support it needs to continue to serve our amazing ecosystem.

Pera is built and maintained by Hipo, the same team behind Tinyman, the Algorand Governance platform, and many other successful Algorand projects. The existing core Pera engineering team will continue to build and maintain the wallet with Pera’s CTO, Yiğit Güler. Operations will be overseen by the Foundation’s EVP of Ecosystem Growth, Min Wei, and Principal Architect, Bruno Martins. 

The Foundation will continue to support and promote other wallets in the ecosystem, including Defly, Exodus, Fireblocks, Ledger, My Algo Wallet, and Daffi Wallet. We believe that the ecosystem is at its strongest with a diversity of wallets. We are exploring opportunities to support or invest in other wallets as well. 

Pera will be stronger than ever before. For existing Pera users, wallet services and customer support continue as usual. There is no need to take any action after this announcement.

EVP of Ecosystem Growth, Min Wei, said: “Pera is an essential part of the Algorand ecosystem – many users, builders, and projects rely on it on a daily basis. With this investment, we’re ensuring that Pera gets the support it needs to continue to build on its success and open our amazing ecosystem to millions of users.” 

Principal Architect, Bruno Martins, said: “The robust wallet architecture and all-around usability of the wallet give me confidence that Pera should be Algorand’s wallet of choice. The Foundation has a strong, qualified team to oversee operations, and I am looking forward to working with the Pera engineering team to continue to deliver an unparalleled wallet experience to Algorand users.” 

Pera Chief Technology Officer, Yiğit Güler, said: “We are thrilled to have the support of the Algorand Foundation, as it means we can continue to build and develop what has become an indispensable component of the Algorand ecosystem. We will keep working hard to make our product even better for its users and look forward to onboarding the next million users to Algorand.”

Borderless Capital Senior Partner, Amit Mehra, said: “The Pera Wallet has become core to how many users operate in Web3. This additional investment, and support from the Algorand Foundation, will ensure that more companies have a world-class wallet to rely upon for creating a seamless and secure Web3 experience for their users. We’re excited to be backing and supporting the Algorand Foundation and the Hipo team in making Pera a truly exceptional Web3 experience for current and future Web3 users.”

Download Pera Wallet