Web3 Startup Treehouse Raises US$18 Million in Seed Fundingby Fintech News Singapore March 16, 2022
Treehouse, a Web3 company transforming on-chain data into meaningful metrics to help decentralised finance (DeFi) investors make informed financial decisions, announced an US$18 million seed round raise.
An undisclosed investor led the round with participation from strategic investors, including Lightspeed Venture Partners, Binance, MassMutual Ventures, Mirana Ventures, Global Founders Capital, Jump Capital, GSR, Wintermute, Do Kwon of Terraform Labs, senior executives from SoftBank Vision Fund, and more.
Founded 11 months ago, Treehouse is building the infrastructure required to enable everyday people to fully harness financial products and services made possible by DeFi.
Harvest, the company’s flagship product, indexes blockchains and deconstructs users’ DeFi positions to present historical data, profit & loss (P&L), and risk metrics on a seamless and highly intuitive user interface.
The analytics platform establishes a standard for users to analyze the DeFi risks associated with their current and historical positions.
The new funds raised will go toward accelerating Treehouse’s growth by expanding Harvest’s blockchain and protocol coverage, building more products and features for retail and institutional users as well as scaling its infrastructure for users to experience a highly seamless and low latency platform.
Treehouse also intends to expand its team which currently has more than 100 staff.
The company is also looking to build a well-informed and innovative community through curated content with in-house research and incentive programmes.
“We are grateful to have with us a group of partners with such deep technical expertise and networks across both cryptocurrency and traditional finance ecosystems.
This funding round will enable us to execute on our vision to help users confidently navigate DeFi,”
said Brandon Goh, CEO of Treehouse.