Decentralized finance (DeFi) analytics firm Treehouse has successfully raised $18 million in seed funding. According to the blog post where it shared the announcement, the funding will be used to fuel its goals of financial inclusion.
Interestingly, the seed round was led by a FinTech investor who chooses to remain anonymous. However, the round also had some major venture capital (VC) firms in participation. They include, Binance, Mirana Ventures, Lightspeed Venture Partners, MassMutual Ventures, Jump Capital, Global Founders Capital, Jump Capital, Wintermute, Do Kwon of Terraform Labs, senior executives from SoftBank Vision Fund, and others to mention only a few.
Treehouse To Use $18 Million Funding For Expansion
Meanwhile, the firm has confirmed that it will be using a major part of the funds raised, to fast-track its growth. And it hopes to achieve this, firstly by expanding Harvest’s blockchain and protocol coverage. However, for clarification purposes, Harvest is Treehouse’s flagship product which indexes blockchains and deconstructs users’ DeFi positions to present historical data, profit & loss (P&L), and risk metrics on a seamless and highly intuitive user interface.
Furthermore, the firm will be building more products and features for retail and institutional users. And by this, offer the users a seamless and low latency platform experience.
Treehouse also plans to expand its workforce which currently consists of more than a 100 staff.
In his remarks about the just concluded seed round, the CEO of Treehouse, Brandon Goh says;
We are grateful to have with us a group of partners with such deep technical expertise and networks across both cryptocurrency and traditional finance ecosystems. This funding round will enable us to execute on our vision to help users confidently navigate DeFi.
Since launching in late 2020, Treehouse has been focused on building a DeFi tool that will enable everyday people to fully harness financial products and services.
Read more:
$15 million funding investment raised by Chingari
Lambda265 Bags $60 Million in Series B Funding
BitsCrunch Completes $3.6 Million Funding Round for NFT Analytics Tools
