CoinStats Raises $3.2 Million to Bring DeFi use cases to 1.2 Million Active Users

CoinStats to bring DeFi use cases to its 1.2 million active users

CoinStats, a leading crypto portfolio management platform, has secured $3.2 million from top investors to offer DeFi use cases to its 1.2 million active users. Investors in the round included Mike Dudas' 6th Man Ventures in addition to Alex Pack's Hack VC. CoinStats' new killer features, which seek to expand DeFi's user base by millions, will be able to utilise the cash to develop and promote.

An 8-fold increase in the number of monthly active users in 2021 helped CoinStats grow its user base to 1.2 million monthly active users and monitor $500 billion worth of assets (of which $20 billion are synced exchange accounts). An increase in revenue of six times in 2021 set CoinStats up for a whole new business line to be launched in 2022. Using the platform's strength and user acquisition success, DeFi functionalities will be implemented into the platform.

Narek Gevorgyan, Founder & CEO of CoinStats, said:

With the new funds, we will expedite our product development and growth delivering better financial products to our users. I immensely value the input and support of our investors, their belief in CoinStats' vision propels us forward.

The Rise of DeFi and Digital Assets

Anyone may join the DeFi protocols and immediately deposit money into them using CoinStats. In this way, CoinStats becomes a DeFi aggregator, leading the app's millions of users to the protocols identified on the app as the most lucrative and secure DeFi investment options available right now. In spite of the fact that high net worth people have invested billions in DeFi, the market remains relatively limited due to various regulatory and technical reasons.

Alex Pack, Founder of Hack VC, said:

Crypto is the first truly new asset class in over a century and it is diverse, with thousands of tokens, NFTs, and dozens of DeFi applications and other DApps where investors can use their tokens. CoinStats has built the essential infrastructure to allow users to truly track what they do with their crypto.

What is CoinStats?

DeFi wallet and portfolio management software CoinStats was launched in 2017. 1.2 million people use it every month, and it allows them to keep track of their crypto, DeFi, and NFT holdings from more than 300 exchanges and wallet providers instantaneously. This app is quickly becoming the sole place where users can learn about the ever-changing world of crypto and DeFi, with a total value of over $500 billion being handled by the app already.

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Image credits: Austin Distel.