Evrynet Raises Funds to Make DeFi Accessible For Institutional Investors
The funds raised in this latest round will help Evrynet make DeFi services available to institutional investors via its app, Evry.Finance.
The DeFi market is certainly booming, pulling in not only individual investors but gaining significant interest among institutional investors as well lately. This is evident from a recently concluded fundraising round by financial services platform Evrynet for its upcoming DeFi app, which raised $7 million.
Led by Singapore-based blockchain venture fund Signum Capital, the private investment round received participation from Petrock Capital, Ellipti Ventures, and more parties. Previously, Evrynet’s app has received the support of HashKey Capital, Everest Ventures and many other interesting firms as well, and the latest fundraising round helped the firm onboard more investors.
The funds raised in this latest round will help Evrynet make DeFi services available to institutional investors via its app, Evry.Finance. The app will offer exchange, liquidity pool and staking services, helping institutions invest in the DeFi ecosystem and reap rewards.
The DeFi space has already attracted interest and investment from larger players such as Grayscale and Bitwise, and more are likely to follow. According to investment manager VanEck, DeFi could go on to garner the lion’s share of the non-Bitcoin blockchain market in the coming years. In addition, the surge in interest in DeFi could challenge traditional banking industries, on account of the higher levels of efficiencies the decentralized model offers.
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