DeFi project party Compound completed $25 million in Series A financing, led by a16z

According to foreign media "Fortune" report, the DeFi lending agreement project Compound Finance announced the completion of the $25 million Series A financing led by Andreessen Horowitz. Other participants included Paradigm, Bain Capital Ventures and Polychain Capital, which are the largest venture capital companies in the DeFi sector to date.

Compound CEO and co-founder Robert Leshner said in an interview that the current pledge of assets on the Compound platform has exceeded $150 million, and the newly acquired investment will be used to improve the platform's infrastructure, making it easier for ordinary people to access this. Service.

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(Photo: CEO and co-founder of the company, Robert Leshner)

Leshner explained that at present, Compound is aimed at experienced users who are familiar with "private keys" and other elements of cryptocurrency, and plans to integrate with crypto exchanges, hosting companies and wallets by the end of 2020, which means that ordinary users also They will be able to lend their cryptocurrency using the services of a service provider such as Coinbase.

According to a person familiar with the matter, the current value of the Compound project is about $90 million.

Andreessen Horowitz general partner Chris Dixon commented on the investment:

“Compound is a lending agreement open to anyone in the world that disintermediates banks and allows anyone to earn interest from their money […] We have worked with Robert and its team for more than two years, they It is a world-class technical expert and entrepreneur."