Alan Howard backs DeFi platform Nested in $7.5 million Series A

The team behind the DeFi platform for social trading Nested closed a Series A funding round. It was led by Brevan Howard, billionaire Alan Howard.

Investors also included CMT Digital, Kenetic Capital, Republic Capital and others.

Funding will be used to expand the number of supported blockchains and the platform’s functionality.

Nested enables showcasing users’ investment portfolios through social networks as NFTs, or sending them as gifts or rewards.

Support is planned for Avalanche, BNB Chain or Polygon. The platform earns revenue from each NFT created.

After minting the token, the smart contract adds new trades in real time. This eliminates the need to issue a new NFT reflecting subsequent trades. The portfolio’s liquidity is provided by the decentralized exchange 0x.

When users create an account, they can copy an existing NFT on the marketplace — reproducing its trades in the process — or start from scratch. Traders receive royalties each time their portfolio is copied.

«Our aim is to unite TradFi, DeFi, NFT and cryptocurrency in a single portfolio. Its replication, management and monetisation are available to both sophisticated and novice investors. […] We strive to democratise access to DeFi and make financial opportunities available to everyone», — said Rudi Kadoc, founder of Nested Finance.

Elwood Technologies has struck a deal with Bloomberg on a ‘strategic integration’ of the crypto platform into Bloomberg’s order-management system.

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