Tech

Defi.app completes $4 mn funding, launches ‘SuperApp’

1 week ago
Bitcoin Ethereum News

Defi.app has made the beta version of its all-in-one decentralized application live on today after the promising “SuperApp project” completed a $4 million funding round.

Receiving participation from DCF Capital Partners, Balaji Srinavsan, and Pentoshi, it saw major investment from the prominent venture capital fund, Mechanism Capital. This latest funding comes after after it raised $2 million in seed funding round last year, bringing its total financing to $6 million.

Presenting itself as a better alternative to traditional Centralised Exchanges and into the growing world of Decentralized finance (DeFi), Defi.app aims to become the go-to application for users to access decentralised services.

DeFI.app launched, to make Defi trading simple?

The beta launch of DeFi.app on mobile and web version including “iphone moment” went live on Friday. Offering various services, it allows users to access Defi world in simple ways.

  • Fiat-to-crypto purchases: It allows users to create wallets, buy ETH or any crypto with fiat currencies in a no-KYC environment.
  • Enables cross-chain token swaps: Allowing swaping, it also alllows users to swap EVM to Solana with no gas fees.
  • Embedding components of Artificial Intelligence (AI) too, it will also allow users access to its AI Agent, named Jarvis. From helping in managing their crypto portfolio to looking for best price of a crypto to buy/sold for, Jarvis can make it for new users to enter and trade in the Web3 world, the company revealed in its launch video.
  • Furthermore, DeFi.app plans to introduce services including perpetual contract trading, yield farms, and lending services in the near future.

Notably, the application is built by a team of 25 developers from Lyft, Robinhood. In early Q2 2025, it further plans to launch its HOME token acting as the native cryptocurrency of DeFi.app. In its above-mentioned financing rounds, DeFi.app sold 400 million HOME tokens (200 million each to venture capitalists and through Echo) at a flat token valuation of $100 million, accounting for 4% of the total supply.

It is also planning to conduct a public token sale for non-U.S. KYC-compliant users, aiming to sell 3% of the total supply of HOME tokens at a valuation of $100 million.

To be Alternative to CEXs?

As the beta launch receives warm welcome from the users, the success of DeFi.App is too early to be predicted. Its point of making “centralised exchanges obsolte” isn’t a easy task as the established exchanges that it is seeking to challenge, such as Coinbase, Binance, are the existing juggernauts of the crypto market.

Nonetheless, its emphasis on providing Decentralized services with self-custody and privacy, making them simple by its application, can receive support from the users looking to get rid of complexity and technicality associated with DeFi.

Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source: https://coingape.com/brandtalk/pulse/defi-app-completes-4-mn-funding-launches-superapp-as-an-alternative-to-centralised-exchanges/