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. 
Science & Technology

Why We Shouldn't Fear AI in Education (and How to Use It Effectively)

Facing resistance to new technologies in the educational process is nothing new, and AI is no exception. Yet, this powerful tool is set to overcome these challenges and revolutionize education, preparing students and professionals for a future of unparalleled efficiency and personalized learning.

Growing a Business

How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Wondering how long your marketing emails should be? Here's what consumers say — so you can send them exactly what they like.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.

Business News

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.

Business News

Elon Musk Threatens to Ban Employees from Using Apple Products, Says Will Lock Devices in 'Cages'

The Tesla founder sounded off on X following Apple's 2024 Worldwide Developer Conference on Monday.