DeFi Social Trading Platform Nested Raises $7.5M in Series A Funding
Nested, a Paris-based DeFi social trading platform based on financial NFTs, it has raised $7.5 million in a Series A funding round led by Alan Howard. The round also saw participation from Republic Capital, Kenetic Capital, and CMT Digital, among other investment firms and individuals.
Multi-chain and built to scale, Nested allows users to build a profile and then create, replicate, manage, update, send and share financial portfolios. These financial portfolios are represented as non-fungible tokens (NFT) reflecting sets of tokens. For DeFi users, influencers, or community leaders, the platform allows one to showcase portfolios, results, share knowledge, and earn royalties every time a portfolio is replicated.
The latest funding will be used to build out Nested’s team of passionate web3 technologists and introduce future product enhancements, such as portfolio leaderboards, staking, lending of the underlying assets, decentralized limit orders, and various types of social-oriented features such as user profile creations and integrated messaging features.
“The vision of Nested is to hybridize traditional finance, decentralized finance, NFTs, and cryptocurrencies to forge a financial product that is both powerful and unique: the Nested portfolio,” said Rudy Kadoch, Founder of Nested Finance. “This is a tradeable, shareable, and replicable portfolio that can be managed and monetized by advanced and novice crypto investors alike. By offering an easy-to-use, user-oriented trading experience and cultivating a community of investors that share knowledge, we aim to democratize access to decentralized finance and facilitate financial connectivity for all.”
“Republic Capital backed Nested because we are thrilled to see such a mature product with a UX that is primed for ease,”said Andrew Durgee, Co-Managing Partner at Republic Capita. “We believe that Nested is ready to be used out of the box and geared for adoption.”
Sam Hallene, Investor at CMT Digital, said, “The use cases and applications for NFTs continue to expand, and Nested is at the forefront of bringing NFTs to trading and investing. Rudy and his talented team have developed an elegant platform that crypto enthusiasts of all experience levels can enjoy and we are excited about their potential to contribute to this growing marketplace.”
