Portals Secures $500K in Seed Extension Funding
Portals, the DeFi protocol aggregator that simplifies Web3 by consolidating DeFi actions, has successfully closed their Seed Extension funding round, raising $500K. This comes after their initial $2M Seed Round led by Lightshift Capital. The additional funding will allow Portals to accelerate the development of a user-friendly and comprehensive DeFi experience.
The Seed Extension participants include Bankless Ventures, Digital Currency Group, and Founderheads, who have shown trust in Portals’ vision and achievements thus far.
Positive Feedback from Founderheads General Founder
Founderheads general founder Sarunas Legeckas expressed excitement about being part of Portals’ journey and believes that it will significantly advance the world of Web3. He has full confidence in the team’s capabilities and expects the project to be a tremendous success.
Driving Force Behind the Seed Extension
Suhail Gangji, co-founder of Portals, highlighted the enthusiasm for the project as the reason behind the Seed Extension’s success. The additional capital will enable faster development as they aim to make navigating DeFi as easy as possible.
What Portals Enables
- Bundling complex DeFi actions into one-click processes, including swapping assets and staking to earn yield.
- Accessing Web3 data from various DeFi protocols through the Build On Portals API.
About Portals
Portals is a platform founded by Suhail Gangji and Nabi Ozberkman that simplifies Web3 by making complex DeFi actions easily accessible. With $2.5M in funding from the Seed Round and Seed Extension, Portals plans to accelerate product development and expand their team.
For more information, visit the Portals website or follow them on Twitter and join their Discord community.
Hot Take: Portals Gains Momentum with Successful Seed Extension Funding
Portals’ recent achievement of securing $500K in Seed Extension funding demonstrates growing support for their mission to simplify DeFi. The contributions from prominent investors signify trust in Portals’ vision and potential for success. With this additional capital, Portals can accelerate the development of a user-friendly DeFi experience that tackles the existing UX problem. By bundling complex actions into one-click processes and providing access to Web3 data, Portals aims to make navigating DeFi as easy as possible. The future looks promising for Portals as they continue to innovate and expand their reach in the DeFi space.
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