Co-founder of Indian crypto unicorn 5ire to depart over internal dispute

5ire co-founders (from left) Prateek Dwivedi, Pratik Gauri, and Vilma Mattila / Photo credit: 5ire

Vilma Mattila, who co-founded the Dubai-headquarted blockchain platform 5ire in 2021, is leaving the company over a dispute with her co-founders, she confirmed with Tech in Asia.

Mattila didn’t clarify the exact timeline of her upcoming departure, but she said her resignation was due to “other co-founders making the management and financial decisions” without her consent.

She co-founded the crypto firm alongside CEO Pratik Gauri and CTO Prateek Dwivedi. Mattila was already well known at that time as an angel investor.

5ire has not responded to request for comments from Tech in Asia.

5ire made headlines last year following its series A round, which was said to value the firm at US$1.5 billion, making it a blockchain unicorn.

It has been working on developing 5irechain, a “proof-of-benefit” blockchain created around the ideals of the so-called “Fifth Industrial Revolution,” from which the company also got its name.

Its mainnet is expected to go live sometime in the next few quarters.

See also: Exodus of advisors at 5ire, India’s meteoric ‘105th unicorn’