By
Temitope Olatunji
April 23rd, 2024
DeFi Investment Interface, Zerion raises $8.2 million in the first round of funding. Mosaic Ventures becomes the lead investor.
Zerion, an investment interface for Decentralised Finance (DeFi), has raised $8.2 million in its first round of funding. Mosaic Ventures, a Silicon Valley-style venture capital firm from London led the Series A round.
The other members in the first funding round for Zerion were such investors as Placeholder, Digital Currency Group, Lightspeed Venture Partners, and Blockchain.com Ventures.
Zerion, the award-winning investment interface furnishes its users with a combined site to operate their complete portfolio. The five-year-old startup was founded to tackle the intrinsically constrained infrastructure of Legacy Finance. Since raising its seed round in 2019, the company has shown enormous growth, engaging several people around the world with its innovative technology. The firm has 200K monthly users from 150 nations around the globe. It has also carried out transactions that aggregate to $600M in volume.
Ever since its inception, Zerion has been working on developing an efficient and convenient user experience while adding new features to its platform. This will comprise a more refined market experience that includes portfolio tracking. According to Zerion’s report, the recent capital raised will be used to increase its current user base to a million. This will be followed by the accommodation of the latest attributes to its platform, whilst aggressively hiring and expanding its team. According to CEO Evgeny Yurtaev, the number of people in the present team (18), will be increased to around 25 by December.
In a statement by the co-founder of Mosaic Ventures, Toby Coppel said that he trusted Zerion to unfold as a dominating interface for the future of DeFi. “As decentralized finance is enabling a completely novel replacement to the conventional ecosystem, Zerion will help billions of people communicate safely,” he added.
Announcing their significant short term goals after the recent round of funding, the company listed its main focus to be:
- Developing their infrastructure
- Multi Chain Support
- A convenient experience non-crypto natives
- Recruitment
The United States is the most substantial market for the firm, followed by the United Kingdom, Germany, Russia, and Australia. The company, which created the first DeFi-native app on Android and iOS, claims that an average investor opens Zerion nine times a day.
Elaborating on the need for an interface like Zerion in crypto-markets, CEO Yurtaev said:
“We saw early on that an internet-scale financial revolution cannot happen without the internet-scale infrastructure that is permissionless, borderless, programmable, and composable.”
The company claims to combine every vital decentralized transaction, providing customers millions of possibilities for investing at the best rates, without any commission.