Giddy, a mobile app that enables mainstream DeFi adoption, has announced that it has raised $8M in seed funding. The round was led by Pelion Venture partners and also includes Divvy founder and CEO Blake Murray, Galileo CEO Derek White, Traeger CEO Jeremy Andrus, angel investor Scott Paul, Brand Whisperer Shaun Neff, and real estate mogul and owner of Skinwalker Ranch Brandon Fugal.
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“It’s hard to overstate the quality of our innovative and forward-thinking investor group.” says Giddy CEO Eric Parker. “We’ve got the best product and tech minds in the state and could not be more grateful and excited to have their support in creating the future of DeFi adoption.”
The seed round comes as Giddy prepares for the launch of its platform which provides the first-ever one-tap staking for DeFi users. Their ground breaking technology was developed with the mission to make DeFi accessible to the average cryptocurrency holder regardless of technical experience or wallet size.
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“Our platform provides an elegant solution to private key management, fast and cheap fiat transfers, streamlined smart contract interactions, and access to rich data and analytics. DeFi today is truly remarkable, it’s the cumulative result of innovators and doers across the globe, but it’s too difficult for most people to access.” says Parker. “We want everyone to have the chance to benefit from DeFi, so we’re overhauling the entire process of how people do DeFi”
Giddy focuses on democratizing the most sophisticated strategies of wealth building in crypto that are typically dominated by high net worth investors. The implications for a true retail DeFi solution are profound. The current system has attuned users to receiving anywhere from a 0.1% to 8% return, with crypto custodians sometimes receiving 50-100% or more by investing their customers’ capital. Giddy is turning that model on its head, allowing users to fully own their crypto and put it to work while simplifying the intimidating process the majority of token holders are unfamiliar with or lack the time to execute, while only taking modest service fees.
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