Portals, the Game-changing DeFi Aggregator, Secures $2M in Seed Funding Spearheaded by Lightshift Capital
This content is provided by a sponsor
Portals, the platform that simplifies Web3 by enabling anyone to bundle complex DeFi actions, has announced the successful close of a $2M seed funding round led by Lightshift Capital, with participation from Poolside, Basement Labs, LongHash Ventures, Daedalus Angels, Mechanism Capital and leading angels 0xMaki, Mathieu Baril, Owl.eth, Emile Dubie, Rudy Kadoch, David Dias, and others.
Lightshift Capital, the lead investor, recognized Portals’ unique value proposition in the DeFi space and is excited to be part of their journey. According to Simão Cruz, Founding Partner at Lightshift:
“Portals’ emphasis on simplifying DeFi for retail investors is a critical component in driving widespread adoption of this new financial paradigm. With Portals, users no longer need to worry about which type of tokens to hold, which venues to use, or which chains are involved in the transaction. Instead, they can focus solely on the assets they want to use and execute their transactions with ease in just one click.”
With this funding, Portals is poised to continue disrupting and simplifying the DeFi space, allowing anyone to easily manage complex DeFi activities.
Portals enables:
Bundling of complex, multi-step actions, such as swapping interest-bearing, liquidity pool, vault, and other exotic assets in one-click.
Staking to earn yield from over 20,000 supported opportunities, with new platforms frequently added to the list.
Access to Web3 data from DeFi protocols, including liquidity pool and token prices, contract positions, account balances, and more through the Portals API.
The Portals API is built by Web3 natives who understand the challenges and complexity this technology can bring for new developers. Therefore the experienced team of Portals has focused on making the integration as seamless as possible for any level of developer. In addition Lightshift has contributed its engineering teams to build an API integration boilerplate that anyone can use to bootstrap their integration. This ensures that developers have the tools they need to integrate Portals seamlessly into their products, while retail users can enjoy hassle-free access to a vast range of DeFi opportunities.
Nabi Ozberkman, co-founder and CTO of Portals, said:
“We’re thrilled to have the support of Lightshift and our other investors as we continue to enhance performance, boost functionality, and drive DeFi adoption. Our team has the skills, experience, and network to create one of the top solutions in the market.”
Portals was recently selected to be a part of Poolside Accelerator’s inaugural cohort, receiving $100,000 in funding and mentorship in areas like marketing, token economy, go-to-market and business development strategy. The program began mid-April. In early June, Portals will present its product during the Poolside Demo Day to a select group of investors.
Portals was founded by Suhail Gangji, who previously co-founded Zapper, and Nabi Ozberkman, who has extensive experience in DeFi as part of the OlympusDAO team. The company plans to use the funding to accelerate product development and expand the team, as they continue to simplify DeFi and make it accessible to everyone.
Brian Fakhoury, Partner at Mechanism Capital, said:
“We see great potential in Suhail as a strong founder, coming from Zapper, with an ability to ship fast. Portals is offering the most comprehensive swaps between exotic tokens like LP shares and interest bearing assets, something that is valuable to any DeFi market participant. Portals will be an instrumental tool as DeFi adoption continues and experiences another major upturn.”
About Portals
Portals is a platform that simplifies Web3 by enabling anyone to easily bundle complex DeFi actions. With $2 million raised and the experience of having founded Zapper, Portals is ready to drive mass adoption of DeFi.
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.
