Get All Access for $5/mo

Defy Raises $5.5 Million In Seed Funding The platform is looking to scale its team across engineering, product, growth and other verticals

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Defy

Defy, a social crypto exchange platform, has raised $5.5 million in Seed funding.

The round was led by Y Combinator, Goat VC, JAM Fund and Goodwater Capital. Other participants were Gemba Capital, Night Ventures, GMO Venture Partners, Uncommon Capital, Soma Capital and Olive Tree Capital.

The platform is looking to scale the team across engineering, product, growth and other verticals, said a statement.

"Defy is a fintech startup that aims at disrupting the cryptocurrency space in India. Our platform puts the user needs at the heart of the conversation. Defy is an app for crypto enthusiasts in India that embraces a friendly user experience. 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 unable to fulfill the aspiration of the smart investors who want their money to grow in tandem with global growth rate," said Bhagaban Behera, co-founder and CEO, in the statement.

"With Defy, a user can communicate with other users and learn along the way. We want to make the process of investing in crypto much more seamless and enjoyable," said Nakul Kelkar, co-founder and COO.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
News and Trends

India's Logistics Cost to be Reduced to 9% Within 2 Years: Nitin Gadkari

With a focus on innovation, clean energy, infrastructure, and rural empowerment, Nitin Gadkari's vision aligns with India's aspirations to become a global economic powerhouse.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Starting a Business

10 Traits of Successful Entrepreneurs That Investors Love (Even If They Seem Like Jerks)

This article explores a thought-provoking question: Why do many successful entrepreneurs exhibit traits that might label them as "jerks?"