CoinStats Crypto Portfolio Manager Raises $3.2 Million, Set to Integrate DeFi Products
CoinStats has announced that it has successfully raised $3.2 million from top investors and it’s now set to integrate decentralized finance (DeFi) products into its ecosystem. The round was led by Hack VC, with participation from other notable funds.
CoinStats Raises $3.2 Million
CoinStats, a leading crypto portfolio manager, has raised $3.2 million from leading VC firms and investors, to offer its more than 1.2 million active users better services and exposure to decentralized finance (DeFi) products.
Per a press release shared with crypto.news, the round was led by Alex Pack’s Hack VC, with participation from other investors, including Mike Duda’s 6th Man Ventures.
The team says the funds will enable it to introduce new exciting features that will expose millions of users to DeFi in a secure way.
CoinStats users will be able to join curated DeFi protocols and directly place their coins in them to earn yield, effectively transforming CoinStats into a DeFi aggregator. The team says the CoinStats app will only feature the most secure and profitable opportunities in DeFi, thereby accelerating the adoption of the relative niche industry.
Narek Gevorgyan, Founder & CEO of CoinStats said:
“With the new funds, we will expedite our product development and growth, delivering better financial products to our users. I immensely value the input and support of our investors, their belief in CoinStats’ vision propels us forward.”
Phenomenal Growth
CoinStats’ latest raise comes at the heel of a phenomenal 2021, which saw its user base grow by 8x to reach 1.2 million monthly active users, cumulatively tracking $500 billion worth of assets (of which $20 billion are guaranteed to exist via synchronized exchange accounts).
In the same vein, CoinStats’ revenue grew significantly in the same period, setting it up for a new product line in 2022. The firm says it plans to leverage its strength and user acquisition success to bring integrated DeFi features to its users.
Alex Pack, Founder of Hack VC said:
“We’re proud to back CoinStats, the largest crypto portfolio manager app in the world. Crypto is the first truly new asset class in over a century and it is diverse, with thousands of tokens, NFTs, and dozens of DeFi applications and other dApps where investors can use their tokens. CoinStats has built the essential infrastructure to allow users to truly track what they do with their crypto.”
Established in 2017, CoinStats is a free crypto portfolio tracker and DeFi wallet, enabling over 1.2 million monthly active users to seamlessly monitor their crypto, DeFi, and NFT holdings in real-time, from over 300 exchanges and wallet providers all in one place.
With more than $500 billion worth of digital assets managed via the app, CoinStats is on its way to becoming the only platform users will need to explore the ever-evolving world of crypto and decentralized finance.
