Crypto startup, Argent, raises £32m for all-in-one DeFi app

A United Kingdom-based Web3 and decentralised finance startup, Argent, has raised $40 million (£32 million) to scale up its venture.

The co-founder and chief executive officer of the startup, Itamar Lesuisse, disclosed this in a statement on Friday.

The round which is expected to help the startup to optimise its all-in-one DeFi app was led by Fabric Ventures and Metaplanet.

According to Lesuisse, the fund will be invested in product development and hiring of new talents.

He said: “For crypto to live up to its potential, it needs to break the stranglehold of big exchanges and incumbent wallets. The experience is too scary, expensive and insecure for most people.”

Read also: London-based fintech startup, Twig, acquires Mobi Market for £8m

Argent was founded in 2017, and reportedly has 500,000 users on its Layer 2 account.

Other investors in the round included Paradigm, Index Ventures, Creandum, Starkware, Jump and Animoca.

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