Spark general partner Natalie Vais was joined in the round by Amplify Partners, Coil and a gaggle of angels. TigerBeetle grew out of a project at web monetisation startup Coil, where engineer Joran Dirk Greef worked on a specialised database to store and process transactions. In 2022, the project was spun out as TigerBeetle, led by Greef, securing $6.4 million in seed funding from Coil and Amplify Partners. In a blog, Greef notes that the "world is becoming more transactional" as India and Brazil surge towards digital payments. "In less than a decade, the world has become at least three orders of magnitude more transactional. And yet the three most popular general-purpose database designs, Postgres, MySQL and SQLite, while great for building apps, are 20-30 years old, designed for a different era of transaction processing," he writes. TigerBeetle’s open source database for financial online transaction processing is capable of handling more than 8,000 debit and credit card transactions in a single query. This, boasts the firm, makes it 1000 times faster than a general-purpose database with a fraction of the hardware, and with a richer set of primitives. The new funding will be used to grow TigerBeetle’s eight-strong workforce and acquiring new customers, Greef tells TechCrunch.