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03.12 - 15:23
Defy raises $5.5 million to build India's first social crypto exchange
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Fintech startup Defy on Thursday said it has raised $5.5 million (around Rs 40.79 crore) in a funding round to build India’s first social crypto exchange.
Defy, founded by entrepreneurs Bhagaban Behera, Sriharsha Setty and Nakul Kelkar, has received Seed funding worth $5.5 million.
The fundraise was backed by Y Combinator, Goat VC, JAM Fund and Goodwater Capital.
Others participating in this round include Gemba, Night Ventures, GMO Venture Partners, Olive Tree Capital in addition to an existing investor, Better Capital, a statement said.
Defy aims to disrupt the cryptocurrency space with a social and community-based approach.
The platform, available for Android users on Google Playstore, aims to build a social platform around crypto to make the
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