Mark Cuban, Ashton Kutcher and Guy Oseary’s Sound Ventures, Framework Ventures, and more support Zapper in its explosive user base and product growth
Zapper, one of the most popular DeFi applications by both user count and volume, has announced the close of a $15 million Series A, led by Framework Ventures, with notable participation from Mark Cuban, Ashton Kutcher and Guy Oseary’s Sound Ventures, Libertus Capital, Nascent, ParaFi Capital, and Coinbase. With the funds from its Series A, Zapper aims to expand its services beyond its existing desktop dashboard through launching its first ever mobile dashboard application, in addition to its own app store. Additionally, Zapper plans to grow its team, with a strong focus on recruiting high-tier engineering and developer resources. Zapper is already the home page for DeFi, and kicking this explosive growth into higher gear is what this Series A is about.
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Built atop the Ethereum blockchain, Zapper provides users and DeFi enthusiasts the unique opportunity to manage their own portfolios from one user interface, including access to liquidity pools, yield farming, swaps with over 3,000 digital assets, and more. Since its launch in August 2020 with a $1.5 million extended seed, the easy-to-use DeFi platform has grown tremendously in the past nine months and now exceeds an impressive $3 billion in transaction volume, a 3x increase since December 2020. Zapper now supports more than 54 DeFi platforms and 150,000 monthly active users.
“Reaching this volume milestone is an immense accomplishment for our team and community, especially looking back to when Zapper, which began as a side-project, only supported a mere 5 protocols,” said Seb Audet, CEO and co-founder of Zapper. “While the additional funding from our Series A will propel Zapper’s expansion plans beyond our initial expectations, the support from some of the most influential crypto and mainstream VCs truly illuminates the importance of simple, effective, and well-thought out user interface in DeFi.”
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As seen through Zapper’s non-custodial nature, giving the user control and ownership of their finances is a core value of the Zapper community. To accentuate this further, Zapper will soon introduce their native app store, modeled similarly after Shopify’s eCommerce dashboard, which will provide a one-stop-shop for users looking to build atop of and integrate with Zapper, on their own terms. If a user believes Zapper’s API should integrate with a particular DeFi protocol, the app store will empower the user to initiate the opportunity. Not only will the app store attract a community of self-driven developers to Zapper, but also ultimately provide a pathway for more DeFi partners and projects to enter the Zapper ecosystem.
In a statement, Mark Cuban shared: “The amount of people using DeFi is skyrocketing. The challenges are around education and helping people understand the risks. Whoever does the best job of this, wins. And Zapper is in a prime position to accomplish that. I’ve been using Zapper everyday to track my DeFi investments.”
“I’ve tried many solutions for tracking my crypto portfolio – from Excel spreadsheets to handwritten notes to complete chaos, and none of it works,” said Maaria Bajwa, Principal at Sound Ventures. “Zapper lets me manage my entire portfolio through a one-click connection to my wallet. Now I can manage and track all of my assets in one place, including my NFTs. I can also exchange, pool, and farm directly from Zapper so there’s literally no reason for me to use any other platform ever again.”
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“Zapper’s dedication to an open network and an open community echo some of the visionary traits Coinbase exhibited in its early days,” said Vance Spencer, co-founder of Framework Ventures. “I am honored to support Zapper even beyond my role with Framework, as I will be joining Zapper’s board as their first external board member. Their DeFi dashboard provides users a place where they can become their own bank, manage their own assets, and control their financial future — these are all characteristics of a company that is bound for success in the DeFi industry and beyond.”
Additional investors of the round include Scalar Capital, Distributed Global, The LAO, CoinFund, Maven Capital, Spartan Group, Defiance Capital, Long Hash, Sino Global, Cooley LLP, Kain Warwick, Stani Kulechov, and Michael Dunworth.
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