Hedge fund Chief, Alan Howard has led a Series A funding round that raised $7.5 million for Nested, a French-based crypto trading platform. The investment platform is known to allow its users to buy and sell Non-Fungible Tokens (NFTs) and said the funding round was organized for the expansion of Decentralized Finance (DeFi) trading tools that it offers to its customers.
Nested is regarded as a community-based investment platform that permits users to receive royalties as returns on their crypto portfolio, in the form of financial NFTs. Customers can invest and trade digital assets that were personally designed by users on the trading platform.
Although spearheaded by Alan Howard, the round involved DeFi-inclined investors like Joseph Eagan from PolyChain Capital, Julien Bouteloup, CEO of bitcoin trading firm, Lily Liu amongst others. Institutions such as Kinetic Capital, Republic Capital, and a host of others also participated in the round.
According to Rudy Kadoch, the Chief Executive Officer of Nested, the firm’s vision is to hybridize traditional finance, DeFi, NFTs, and other digital assets to create a unique and powerful product known as the Nested Portfolio.
With the Nested portfolio, users can now carry out transactions such as buying, selling, or even exchanging tokens while trailing their performance in the market. With this, the users can begin to assemble and improve their portfolio and at a later date, decide to put it up for sale with just one instruction.
For beginners in decentralized finance and the broader digital currency space, the Nested platform permits the examination of outlines of other users’ accounts and their portfolios. If the beginners intend to imitate them for their use, they will also be granted permission.
Sequential Funding Rounds Takes Over the Globe
Similar to the Nested funding, VARL has raised $50 million in a Series B funding round on Tuesday. This funding round involving the South African crypto exchange is one of the largest in Africa so far. The exchange has successfully increased its valuation to $240 million.
Just as VALR was the delight of investors, a number of crypto-focused entities have been gaining attention from venture capital firms around the world. With the massive switch to Web3.0 innovative as well as the metaverse, many of these big-money investors are unwilling to let the tide flow by them.