Germany-based fintech firm Unstoppable Finance has raised €12.5 Million (US$12.8 Million) for the DEFI wallet ‘ULTIMATE’.
The Series A funding round was led by Lightspeed Ventures. Ruckaway Blockchain Fund and Fabric Ventures also participated in the round. The Series A follows a 4.5 million euro seed round in October.
DeFi; It is global, peer-to-peer (meaning directly between two people without being routed through a centralized system), pseudonymous, and public.
Ultimate, on the other hand, is a self-storing wallet mobile app that offers access to a DeFi protocols in order to offer easy investment and trading to the masses. Unstoppable Finance aims to make DEFI more accessible to mainstream audiences by increasing the options available. Users will be able to use three protocols in the first version of the wallet: Orca exchange for trading, Lido Finance for liquid staking and Friktion Finance for higher returns.
“Today’s DeFi users struggle to identify which protocols offer legitimate opportunities among the sea of options that fit their risk profile” – CEO Maximilian von Wallenberg-Pachaly.
Lightspeed Ventures advisor Banafsheh Fathieh said she is confident Ultimate will be the “missing channel” between DeFi and retail investors.
The app is expected to be available soon with a private beta version. It will then be fully available on iOS in a few months. Unstoppable Finance stated that the next step is to make it available on Android. So far, around 300,000 users have pre-registered to access the app if it becomes available.
About Unstoppable Finance
With every activity they do, they want to remove borders from the financial system, make markets and opportunities accessible to everyone. It aims to remove borders by creating applications that provide open and unconditional access to crypto money markets.
About Ultimate
Just as the Internet has revolutionized the way we transfer information, blockchain technology is revolutionizing the way we process value. Ultimate (by Unstoppable Finance) creates a layer of access to decentralized finance (DeFi), which is your home for everything tokenized, web3 and digital identity.
Ultimate Team
Peter Grosskopf – CTO Co-Founder ( Former CTO of Börse Stuttgart Digital Exchange; Co-Founder / CTO at Solarisbank; Chief Development Officer at HitFox Group and Finleap. Active member of Blockchain Community since 2016.)
Maximilian von Wallenberg – CEO Co-Founder( Former CEO Börse Stuttgart Digital Exchange; Co-Founder at neo-brokerage UpTick; Crypto CPO at Quantumrock; Ex-Lehman Brothers; London School of Economics, Harvard Business School.)
Omid Aladini – Director Of Engineering( Former tech lead for trading infrastructure and matching engine at the crypto exchange BSDEX; Founded the data engineering team at SoundCloud; MSc Computational Neuroscience / Machine Learning.)
