Zapper, the decentralized finance (DeFi) dashboard, has raised $15 million in a Series A round led by Framework Ventures. The round was joined by actor Ashton Kutcherâs Sound Ventures and entrepreneur Mark Cuban.
The crypto startup has soared in transaction volume and monthly active users since its November 2020 seed extension. Now supporting 54 DeFi protocols, it plans to launch an on-platform app store for developers and is working on a Zapper mobile app.
The raise pumps fresh capital into one of DeFiâs popular asset management tools. Zapper said it boasts 150,000 monthly active users and recently crossed the $3 billion in total transacted volume watermark. Its web app plugs into usersâ wallets for easy balance viewing; it also lets users swap, stake and yield farm across multiple chains.Â
Our goal is to have this one portal where you can track all your assets.
CEO Seb Audet said the native app store will help Zapper keep up with the âexplodingâ ecosystem of DeFi products by letting the community pitch in with new features. Zapperâs in-house engineers have already integrated the platform with 54 protocols for one-stop viewing in a break from DeFiâs âfragmentedâ nature.
âEverything is fragmented, itâs on a bunch of different apps living, different websites and web apps and our goal is really to reduce the friction and just have this one portal where you can track all your assets and manage and swap and farm,â Audet said.
He compared the coming app store to Shopifyâs lucrative e-commerce app platform and said Zapper is looking into potential revenue models but hasnât committed to one yet.Â
Audet said Zapperâs team will continue building a product that makes it easy to plug into DeFi without burying the intricacies of crypto.Â
âA lot of products focused on abstracting crypto completely,â he said. âAnd weâre totally on the opposite side, like we want to actually let Web 3, let crypto shine.â
Previous Zapper seed investors Libertus Capital, Coinbase Ventures, Michael Dunworth, The LAO, CoinFund and Kain Warwick joined newcomers Nascent, ParaFi Capital, Scalar Capital, Distributed Global, Maven 11, Spartan Group, DeFiance Capital, Long Hash, Sino Global, Cooley LLP and Stani Kulechov in the Series A.