Backpack
Backpack is a cryptocurrency exchange and self-custody wallet provider with 1 million users, launched in 2023 and recently raised $17M in Series A funding from investors including Jump Trading and Delphi Ventures.
The growth story
Backpack grew from 6 to 90 employees between 2022 and 2026, raising $17M along the way, most recently a Series A in February 2024.
About
Backpack operates a regulated crypto exchange and browser extension wallet, targeting retail users who want compliant trading and self-custody options. The company emphasizes security and ease of use in a market recovering from exchange failures.
The startup reached 1 million users within its first year and is actively hiring, though its 90-person team remains lean compared to established exchanges. Its Series A suggests investor confidence despite crypto's recent volatility.
Founders and leadership
Engineering dominates the 90-person org with 12 identified engineers. The remote-first structure spans multiple continents, with no single location housing a majority of staff.
The Backpack org chart
Armani Ferrante (Founder & CEO) leads 24 mapped leaders with 4 direct reports. Click +N to expand a team; names link to the person’s public profile.
Departments, and which ones grew
Headcount by function: Engineering 15 (+7% YoY), Finance 12 (+33% YoY), Business Development 10 (+25% YoY), Marketing 10 (-17% YoY), Legal 8 (-20% YoY), Sales 7 (+17% YoY).
Talent flow
Backpack heavily recruits from failed crypto exchanges, with 11 ex-FTX employees and several from Kraken and OKX. Alumni have founded small crypto startups like 100xDevs and gaming projects.
Most common previous employers of Backpack staff: ftx (11), Morgan Stanley (4), Royal Bank of Scotland Business (3), Kraken (3), OKX (2), bitFlyer (2). Former Backpack employees most often moved to Oneremit | Borderless Transactions (1), Bastion (1), Eigen Labs (1), 100xDevs (1), BENOTEK ENGINEERING (1), Michelsen Design (1).
Alumni worth knowing
Web traffic
Traffic mix: 66% direct, 10% search, 12% social, 0% paid.
What this company is made of
Most common skills at Backpack: Management (18), Analytical Skills (16), Microsoft Office (16), Project Management (16), Marketing (15), Data Analysis (14), Communication (14), Leadership (14).
Where the team actually sits
Backpack people are concentrated in Tokyo, Japan (5), Dubai, United Arab Emirates (4), Cyprus (4), California, United States (3).
Search footprint
Backpack attracts about 4,432 organic search visits a month, traffic worth roughly $25K a month if bought through ads. It gained 716 ranking keywords and lost 1,399 in the last period.
Frequently asked
Backpack has 90 employees as of September 2026.
Backpack has raised $17M in total, most recently a Series A round in February 2024.
Backpack was founded in 2023 by Armani Ferrante.
Armani Ferrante (Founder & CEO) sits at the top of Backpack's reporting structure, with 4 direct reports.
The most common previous employers of current Backpack staff are ftx (11 people), Morgan Stanley (4 people), Royal Bank of Scotland Business (3 people).
Former Backpack employees most often move to Oneremit | Borderless Transactions (1), Bastion (1), Eigen Labs (1).
Backpack attracts about 4,432 organic search visits a month, worth roughly $25K a month in equivalent ad spend.
The most common skills among Backpack staff are Management, Analytical Skills, Microsoft Office, Project Management, Marketing.
Backpack staff are concentrated in Tokyo, Japan (5), Dubai, United Arab Emirates (4), Cyprus (4).
Backpack has about 15 people in Engineering, up 7% over the past year, as of September 2026.
Backpack has about 12 people in Finance, up 33% over the past year, as of September 2026.
Computed from 59 current and 25 former Backpack profiles, as of September 2026. Source: Crustdata.
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