- Giddy recently announced it raised $8 million in funding. These are the details.
Giddy — a mobile app that enables mainstream DeFi adoption — recently announced that it has raised $8 million in seed funding. This funding round was led by Pelion Venture Partners and also includes Divvy founder and CEO Blake Murray, Galileo CEO Derek White, Traeger CEO Jeremy Andrus, angel investor Scott Paul, Brand Whisperer Shaun Neff, and real estate mogul and owner of Skinwalker Ranch Brandon Fugal.
The seed funding round comes as Giddy prepares for the launch of its platform which provides the first-ever one-tap staking for DeFi users. And their technology was developed with the mission to make DeFi accessible to the average cryptocurrency holder regardless of technical experience or wallet size.
Giddy is known for focusing on democratizing the most sophisticated strategies of wealth building in crypto that are typically dominated by high net worth investors. And the implications for a true retail DeFi solution are profound.
The current system has attuned users to receiving anywhere from a 0.1% to 8% return with crypto custodians sometimes receiving 50-100% or more by investing their customers’ capital. And Giddy is turning that model on its head, allowing users to fully own their crypto and put it to work while simplifying the intimidating process the majority of token holders are unfamiliar with or lack the time to execute, while only taking modest service fees.
“It’s hard to overstate the quality of our innovative and forward-thinking investor group. We’ve got the best product and tech minds in the state and could not be more grateful and excited to have their support in creating the future of DeFi adoption.”
“Our platform provides an elegant solution to private key management, fast and cheap fiat transfers, streamlined smart contract interactions, and access to rich data and analytics. DeFi today is truly remarkable, it’s the cumulative result of innovators and doers across the globe, but it’s too difficult for most people to access. We want everyone to have the chance to benefit from DeFi, so we’re overhauling the entire process of how people do DeFi.”
— Giddy CEO Eric Parker