Defy, a Bengaluru-based platform, co-founded by Sriharsha Setty, Bhagaban Behera, and Nakul Kelkar, has announced that it has secured $5.5 million in its seed funding round for Y Combinator-backed Walrus, its parent company. The funding round saw participation from JAM Fund, Goat VC, as well as Goodwater Capital.
Gemba Capital, GMO Venture Partners, Night Ventures, Uncommon Capital, Soma Capital, Olive Tree Capital and Better Capital also participated in the round.
Bhagaban Behera, Co-founder and CEO, commented, “Defy is a coming-of-age fintech startup that aims at disrupting the cryptocurrency space in India. Our platform puts the user’s needs at the heart of the conversation. Defy is an app for crypto enthusiasts in India that embraces a friendly user experience keeping the intimidating crypto lingo at bay.”
“Over the past 18 months, this asset class has caught everyone’s attention not only because it has emerged as the best asset class of 2021 but also because other asset classes are not able to fulfil the aspiration of the smart investors who want their money to grow in tandem with global growth rate,” added Bhagaban.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.