Paradigm backs Exponential in $14 million seed round

Paradigm leads $14 million seed round for Exponential.

Exponential, a platform for discovering investments and assessing risks in the DeFi sector, raised $14 million in a seed round led by Paradigm.

We’re excited to announce that Exponential has raised a $14M seed round, led by @Paradigm, and is now available to the public. Exponential is a new investment platform that makes it easy to discover, assess, and invest in DeFi yield opportunities https://t.co/lBc12j7EkS

— Exponential DeFi (@ExponentialDeFi) October 3, 2022

Funding also came from Haun Ventures, former Andreessen Horowitz partner Katie Haun, FTX Ventures, Solana Ventures, Polygon, Circle Ventures and more than 80 angel investors.

“Investing in DeFi is a hellish labyrinth where even the most devoted crypto evangelist can get lost. The search for legitimate projects, closing deals, moving funds across chains, tracking performance and paying taxes — this is more than enough to deter most investors,” the press release said.

Exponential plans to bridge the gap between Web2 and Web3, making it easier to invest in DeFi protocols through the platform.

In August, the decentralized lending platform Credix closed a Series A round of financing on $11.25 million. It was led by Early Stage Motive Partners and ParaFi Capital.

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