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.


(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."

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


The Global Economy Enters a New Era: The Rise of AI and Blockchain Technology

The global economy is on the brink of a new and exciting 'super cycle', reminiscent of the prosperous 1980s. This gro...


EOS Labs, ESCC, and ENF Join Forces for Stellar Stablecoin Solutions

EOS Labs and EOS Network Foundation have teamed up with ESCC to bring stablecoin-based gas fees and Ethereum compatib...


Osaka Digital Exchange: Transforming Japan’s Financial Landscape, One Token at a Time

Fashionistas, get ready for a game-changing development in Japan's financial world! ODX is launching the first-ever s...


CoinList Unveils cForm Empowering Crypto Community Engagement Revolution

Fashion-forward platform CoinList is shaking up the crypto world by launching cForm, a dynamic tool for cultivating a...


PEPE Surges 190% and Reclaims Top Spot as Third Largest Meme Coin 🚀

Pepe Coin (PEPE), a meme-inspired cryptocurrency built on the Solana (SOL) platform, has seen an impressive increase ...


Core Scientific: A Transformational Financial Move 💰

Core Scientific, a Texas-based Bitcoin mining company, is set to return to Nasdaq for trading on Wednesday, January 2...