Zerion

Zerion is a fintech company founded by Russians Yevgeny Yurtaev and Alexei Bashlykov and Ukrainian Vadim Koleoshkin. The startup is developing a platform of decentralized finance (DeFi), on which users can use traditional financial products, but without the participation of intermediaries in the form of banks or processing companies. DeFi projects aim to make the financial sphere more accessible using blockchain and smart contracts.

The main difference between Zerion and traditional financial services is that startup users do not delegate control on their platform funds. The company's office is in New York.

History

2021: Raising $8.2 million

In early July 2021, the fintech company Zerion announced the raising of $8.2 million as part of the Series A investment round, which was led by Mosaic Ventures, with the participation of Placeholder, DCG, Lightspeed and Blockchain.com Ventures.

Against the backdrop of the renewed crypto-gold rush in 2021, Zerion, according to CEO Yevgeny Yurtaev, processed transactions worth more than $600 million, and by July 2021 the number of active users exceeds 200 thousand.

The Russian-founded fintech startup Zerion attracted $8.2 million in investments

Zerion provides customers with access to more than 50,000 digital assets and 60 protocols Ethereum-blockchain through its application that optimizes the DeFi user interface. Users can access tokens and invest through the application, similar to exchanges such as Coinbase or, Gemini but do so using their personal wallets such as MetaMask, which means that users' funds and private keys are not controlled and are not available to Zerion.

Along with a significant increase in prices for Ethereum and Bitcoin, the volume of DeFi increased sharply in 2021 from just under $20 billion at the beginning of the year to almost $90 billion in May. The DeFi market as a whole turned out to be as unstable as Bitcoin, while the market volume fell by about 35% over the past couple of months to a little more than $57 billion.

The Zerion mobile application, which is supported by both iOS and Android, has become a particularly popular tool for tracking the market and token performance for crypto investors. According to the company, the user on average opens the application more than nine times a day.

There are many different tokens and protocols in DeFi space, "said Yevgeny Yurtaev. - Theoretically to navigate in it should be easy, but in fact all this mess... We're trying to demystify them.[1]

2019: Attracting $2 million of investments

In early December 2019, Zerion announced the attraction of $2 million in investments. Placeholder became the main investor in the sowing round American venture fund. In addition, the Blockchain Ventures Foundation, the European blockchain platform Gnosis and business angels Chris Liu, Paul Jacobian and Brad Burnham invested in the fintech startup.

Zerion announces $2 million investment

According to Zerion, the raised funding will be used to "build the best interface in the world of decentralized finance." Also, experts plan to use the funds received from investors for the following purposes:

• development of the financial product line;
• improvements to products already presented;
• attracting new users;
• creating and launching a mobile version of the startup application.

During its work from the beginning of 2019 to the beginning of December, operations worth more than $47 million were carried out through the service. Each month, more than 2 thousand investors from the USA, Great Britain, Russia and Southeast Asia use the platform, and the total number of users since the beginning of 2019 year amounted to 10 thousand.

For users, the service is provided for free, and developers want to earn on additional functions, such as fund insurance and automated trading.^[2]

Notes