Fintech and software company Fordefi operating out of New York and Tel Aviv has secured $18 million in Seed funding spearheaded by Lightspeed Venture Partners.
Other participants in these funding include; Alameda Research, Electric Capital, Castle Island, Jump Crypto, PayPal Alumni Fund, Pantera Capital, Illuminate Financial, Defiance Capital, Nima Capital, Digital Currency Group, and StarkWare.
Fordefi has disclosed it will channel the received funds into solidifying its strategic position, and drive its growth and expansion agenda.
According to Sam Harrison, a Senior Advisor at Lightspeed Venture Partners, and Managing Partner at Faction, Fordefi is addressing two major challenges: “institutional-grade security and smart contract transparency.”
Fordefi’s board is now comprised of Josh Schwartz (CEO), Dima Kogan (CTO), Michael Volfman as the Vice President (Research & Development) amongst others. The Fordefi vision was birthed in 2021.
Fordefi offers an MPC wallet supported by Web3 gateway to help institutions connect to dApps across diverse chains while ensuring maximum security of digital assets in the process. It is a DeFi ( decentralized finance) backed platform with MPC wallet and security service. It covers MPC key management, a self-service DeFi policy control, time-of-transaction smart contract insights, transaction simulation, and risk alerts.
As originally reported in (https://www.finsmes.com/2022/11/fordefi-raises-18m-in-seed-funding.html)