3 years ago

Argent Raises $40 Million in Series B Funding to Expand DeFi App

  • Argent, a Web3 and DeFi startup based in London, has raised $40 million (£32 million) in its Series B funding round led by Fabric Ventures and Metaplanet

  • The company plans to use the funds for product development, hiring, and international expansion, starting with Mexico and then South America

  • Argent's goal is to create a comprehensive, all-in-one app for DeFi and Web3, offering features like buying, storing, and sending crypto, earning interest, and trading tokens

  • The round also saw participation from existing investors Paradigm, Index Ventures, and Creandum, as well as new investors Starkware, Jump, and Animoca

  • Argent's Series A round in March 2020 raised $12 million (£9.6 million), led by Paradigm, and a $4 million seed round in 2018

  • The company has now raised over $56 million (£44.9 million) in funding.

      • ProblemFinancial Services

      "making traditional exchanges and wallets, which are controlled by governments and corporations, too scary, expensive and insecure for most people"

      Solution

      "Argent's all-in-one DeFi app combines security, usability and low fees, allowing users to buy, store and send crypto, earn interest, and trade tokens, while also planning to expand into new features like real estate, gaming, DAOs and NFTs"

      Covered on