Nested, an all-in-one DeFi social trading platform based on financial NFTs, announced today that it has successfully closed its Series A funding round having raised $7.5 million.
Nested has launched on Polygon, Binance Smart Chain and Avalanche, and its platform enables users to easily build portfolios of tokens, track their performance, add, sell and swap tokens with Nested portfolios minted as NFTs. For DeFi users, influencers or community leaders, the Nested platform allows anyone to showcase portfolios, results, share knowledge and earn royalties every time a portfolio is replicated.
The funding round was led by renowned macro and digital asset investor Alan Howard and saw participation from Republic Capital, Kenetic Capital and CMT Digital, among other investment firms.
Additionally, Nested’s round was joined by a range of angel investors and technophiles, including, amongst others, Joseph Eagan, the former president of Polychain Capital, Lily Liu, the Co-Founder of Earn, which was acquired by Coinbase, and Julien Bouteloup, Founder of StakeDAO, REKT, Blackpool, and an early contributor of Curve.
"Hybridize Traditional Finance"
Rudy Kadoch, the Founder of Nested Finance, said: “The vision of Nested is to hybridize traditional finance, decentralized finance, NFTs and cryptocurrencies to forge a financial product that is both powerful and unique: the Nested portfolio. This is a tradeable, shareable and replicable portfolio that can be managed and monetized by advanced and novice crypto investors alike. By offering an easy-to-use, user-oriented trading experience and cultivating a community of investors that share knowledge, we aim to democratize access to decentralized finance and facilitate financial connectivity for all.”
Andrew Durgee, the Co-Managing Partner at Republic Capital, said, “Republic Capital backed Nested because we are thrilled to see such a mature product with a UX that is primed for ease. We believe that Nested is ready to be used out of the box and geared for adoption.”
Sam Hallene, an Investor at CMT Digital, said, “The use cases and applications for NFTs continue to expand, and Nested is at the forefront of bringing NFTs to trading and investing. Rudy and his talented team have developed an elegant platform that crypto enthusiasts of all experience levels can enjoy, and we are excited about their potential to contribute to this growing marketplace.”
Jechan Chu, the Co-Founder and Managing Partner at Kenetic Capital, said, “Cryptocurrency is a social currency, and Nested empowers people to leverage Defi expertise to reinforce and expand their social networks. Kenetic is excited to support Nested in evolving the social financial future.”
