By Luke F - Crypto Broker - 26-08-2021
In recent news in the cryptocurrency trading industry a lending protocol, Euler, has recently publicised a Series A fundraising round. Leading the $8 million funding round is an investment firm, Paradigm. The firm is known for investing in cryptocurrency assets and supporting other crypto companies and protocols.
The statement was published on Euler's official blog page. The Euler team mentioned that the funds would help team training and development and bring products and services into the market within the blog. Reportedly, the company had stated that Paradigm would provide significant experience and assistance. Euler further explained that the investment firm would also deliver valuable supplies, which would help the protocol grow exponentially.
Other companies attending the funding round reportedly are Lemniscap, Cluster Capital, LAUNCHub Ventures, David Hoffman, and Anthony Sassano, to name a few out of the many investors. Lemniscap is another investment firm that is known for buying crypto assets and is also the main seed round investor for the current funding round. Cluster Capital is another angel investor that operates a global network for investors who love buying and selling crypto. According to Euler, other honourable mentions joining the funding round are Ryan Sean Adams, Kain Warwick, Supryo Roy, and Danilo Carlucci.
According to the blog posted on the Euler site, the protocol is ecstatic to partner with Paradigm. Euler will be joining the Paradigm network, which will include industry experts like Coinbase, Uniswap (UNI), Maker, Synthetix, Maker, Reflexer Labs, Compound (COMP), and many others. According to the Euler team, they are looking forward to fully integrating the protocols into the DeFi ecosystem.