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Exponential Raised A $14 Million Seed Round Led By Paradigm

Exponential, a decentralized finance network, has secured $14 million in a seed round led by Paradigm.

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According to a business blog post, other investors include FTX Ventures, Haun Ventures, and Circle Ventures, as well as over 80 angel investors such as Balaji Srinivasan, Anthony Pompliano, and Elad Gil.

The company was formed by ex-Amazon and Uber employees who seek to simplify DeFi investment by making it easier to find, evaluate, and invest in high-yielding prospects.

Driss Benamour, CEO and co-founder of Exponential, formerly served as Uber’s director of financial products, while co-founder and chief technical officer Greg Jizmagian previously worked at Amazon for over five years, helping to build up Amazon’s voice grocery purchasing operations.

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Through its platform, Exponential hopes to bridge the gap between Web2 and Web3, making it simpler to invest in DeFi protocols. Exponential users will gain access to DeFi instruments, the business announced in a blog post.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.