February 4, 2023

Fintech-startup Zerion conducted a sowing round of $ 2 million

Fintech-startup Zerion conducted a sowing round of $ 2 million

During the sowing round of investments, fintech startup with Russian roots Zerion raised $ 2 million to further develop its activities.

Lead investor made by American venturefund with a focus on decentralized finance technology - Placeholder. Other participants in the round were Blockchain Ventures, the venture division of one of the largest blockchain.com wallets, Gnosis, a leading European blockchain platform, Ethereum smart contract wallet developer, and business angels - private investors from silicon Chris Liu Valley, Paul Jacobian and Brad Burnham.

Zerion DeFi Startup Provides Userseasy access to investment and decentralized asset management. Unlike traditional financial services, Zerion users do not delegate control over their funds to the platform, which avoids many risks and makes the product accessible globally.

The first product release took place in January 2019years, and since April the service has been in beta testing format. During this time, more than $ 47 million worth of transactions were conducted through the platform. More than 2,000 investors from the USA, Great Britain, Europe, Russia and Southeast Asia use the platform monthly, and the total number of users has grown to 10,000 since the beginning of the year. Zerion uses Ethereum smart contract technology and integrates with key DeFi protocols: MakerDAO, Compound, Uniswap, Set and Fulcrum.

In April of this year, the team wonhackathon Y Combinator, and later in September received the award for "best UX" at the largest Ethereum conference in Osaka - DevCon. Currently, the Zerion team has 9 employees who work remotely from different countries: USA, Russia, Lithuania and the UK. Startup founders: Evgeny Yurtaev, Alexey Bashlykov and Vadim Koleoshkin.

The attracted investments will be used to further develop the line of financial products, attract new users, improve the online version of the product and launch mobile applications.

According to Yevgeny Yurtayev, co-founder andCEO Zerion, over 8 months of communication with investors, meetings were held with 50 funds in San Francisco, New York and Berlin. Since it was important for the project participants to find reliable partners who would share their vision of the potential of the decentralized finance market.

“In the 90s, many felt that the Internet would changethe world will become a new global infrastructure. But in fact, only specialists used it, and for ordinary users it became available only with the advent of Mosaic and Netscape products. There is a similar situation in the decentralized finance market. The segment has huge potential, but the industry needs fresh ideas and ambitious young developers who can create a convenient (for a wide variety of users) platform. I’m sure that the team of Eugene, Vadim and Alexei with Zerion will make DeFi accessible to a wide audience, ”said Brad Burnham, managing partner at Placeholder.

text: Ivan Malichenko, photo: Zerion