Non-custodial investment app SmartDeFi closes $1 million Pre-seeded round led by Future Fund and others

SmartDeFi is an easy-to-use non-custodial investment app that meets the needs of traditional investors who want to start their first DeFi investment but don’t understand the risks.

San Francisco-based SmartDeFi is an easy-to-use, non-custodial investment app that meets the needs of traditional investors who want to start their first DeFi investment but don’t understand the risks, according to Market Watch. The user-friendly iOS app removes the complex encryption barrier to entry and enables users to instantly access the risk-adjusted DeFi product area directly from their mobile device using a bank account, credit card or Apple Pay.

SmartDeFi will be available in the second quarter of 2021 and is currently available in a sneak preview.

SmartDeFi was founded in 2020 by Kieran Daniels (CEO) and Dziugas Butkus (CTO). They believe that the reason traditional investors have not yet entered the lucrative DeFi market is the lack of an easily understood and transparent risk assessment layer.

To address this issue, the company secured $1 million in pre-seed funding led by venture capital firms Future Fund , Centrality A, GenBlock and Arcuate Capital.

Advisors to the project include Santiago R Santos, General Partner at ParaFi Capital, Joel John of Principle and Ledger Prime, and Lukas Schor, Head of Product at Gnosis Safe.

The SmartDeFi mobile app gives users instant access to DeFi through a variety of risk-adjusted investment products, named “decentralized ETFs” (DETFs).

Unlike Robinhood, Fidelity and Charles Schwab, SmartDeFi users truly own their assets and can buy and sell 24 hours a day, 7 days a week, without relying on third-party approval.

In addition, SmartDeFi is the first consumer application built on Polygon, an ethereum extension solution, which has more daily transactions than the ethereum blockchain because users buy and sell DETFs without worrying about high gas fees or network congestion.

Kieran Daniels, co-founder and CEO of SmartDeFi, stated

In 2017, people who invested in cryptocurrencies were called crazy. Even 2 years ago, cryptocurrencies were considered a scam. Then people started saying, I want to buy cryptocurrencies, how do I put 1-5% of my portfolio in DeFi products? This shift is why we built SmartDeFi and DETF products.
The SmartDeFi infrastructure is powered by Idle Finance (DeFi protocol), Gnosis Safe (multi-signature wallet), Polygon Network (2-tier aggregator), Wyre (fiat payments), and Torus Labs (Web3 login).

This portfolio of Web3 products creates a seamless journey for all users to get started. Users can download the SmartDeFi app and then easily purchase a smart basket of risk-adjusted DeF products.

Posted by:CoinYuppie,Reprinted with attribution to:
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