Zerion Raises $2M to Fuel Next Phase of Decentralized Finance

Zerion Raises $2M to Fuel Next Phase of Decentralized Finance
04.12.2019 03:59 am

Zerion Raises $2M to Fuel Next Phase of Decentralized Finance

Risk Management

Zerion, the first simple interface to the protocols of decentralized finance (“DeFi”), has raised $2M in seed funding from Placeholder, Blockchain.com Ventures, and Gnosis. The team will use the investment to accelerate development and add support for more DeFi services. Zerion has processed over $47M in transaction volume over the last five months and won an award for the Best UX in the Ethereum ecosystem at Devcon in October 2019.


DeFi, built on decentralized protocols rather than centralized platforms, brings to fruition a long-pursued goal in crypto: permissionless finance that relies on zero centralized counterparties. From credit creation to insurance to asset management, the decentralized finance space is emerging to cover all aspects of the financial sector, but at  a fraction of the cost of current centralized solutions.


Today, Zerion, enables non-technical users to acquire, track and manage assets on many leading DeFi protocols including MakerDAO, Compound, Uniswap, Set, and Fulcrum. Zerion is an integrated experience that overcomes the fragmentation, complexity and lack of trust in centralized alternatives, that have to date held back the adoption of DeFi.


“We are thrilled to find partners that share our vision and bring years of experience that will help us grow the company,” said Evgeny Yurtaev, CEO and co-founder at Zerion. “DeFi will do to finance what the Internet did to information. We are grateful for the community’s continued support and excited to lead the way in the adoption of a programmable and global financial system.” 


The investment is led by Placeholder, a venture capital partnership based in New York City with over $150 million in committed capital under management. Placeholder invests in companies and protocols that decentralize data, wealth, and power.


“Back in the 90's many of us intuitively understood the Internet was a powerful new infrastructure but it took Marc Andreessen with Mosaic and then Netscape to make this powerful new infrastructure accessible to a broader audience. DeFi, or decentralized finance, feels just as profoundly transformative today as the Internet did then, but it is still too hard to use. Like with the Internet, it will take a young team, native to the new infrastructure, to simplify the user experience and make it more accessible. I believe Evgeny, Vadim, and Alexey are the right team and Zerion is the right product to bring DeFi to a mainstream audience.” says Brad Burnham, Venture Partner at Placeholder.


Blockchain.com Ventures makes long-term venture investments in businesses using blockchain technology to provide product differentiation or enhanced utility, rather than leveraging crypto as a tool for financial speculation.


“DeFi has rapidly gone from an exciting theoretical blockchain use-case, to having a real-world impact for an entirely new type of users, particularly for those poorly addressed by the traditional financial ecosystem” says Samuel Harrison, Managing Partner at Blockchain.com Ventures. “Zerion is making DeFi simple and easy to use for all.” 



Related News

NewB opts for Wolters Kluwer’s OneSumX for Risk Management

NewB, the Belgian ethical bankhas selected Wolters Kluwer’s ... Read more »

AvaTrade launches revolutionary AvaProtect for desktop trading

AvaTrade, an award-winning CFD broker, has launched AvaProtect – a revolutionary one-click risk management... Read more »

Ardent Financial selects SteelEye for MiFID II and MAR compliance

SteelEye, the compliance technology and data analytics firm, has been selected by Ardent Financial, a new FCA authorised Securities Dealer, to... Read more »

FICO Offers Free Cyber Risk Score 90-Day Trial in Europe

Cyber exposure is one of the most rapidly growing risks in today’s digital world. Almost daily, the media report on companies that have suffered data breaches where criminals... Read more »

Wolters Kluwer triumphs in operational risk awards

The ... Read more »

QuantaVerse offers AI-powered country code derivation to enable financial institutions to experience the potential of automated entity resolution

QuantaVerse, which uses AI and machine learning to automate financial crime investigation processes, is now offering the country code... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel