DeFi startup Conduit attracted $17 million in financing round – Bits Media

Canadian company Conduit, developing APIs to provide financial institutions with fast and easy access to DeFi, attracted $17 Milln in the round of financing.

The round leader was Portage Ventures with the support of Diagram Ventures, FinVC, Gemini Frontier Fund, Gradient Ventures, Core Innovation Capital, Inovia Capital, Gaingels, Discovery Ventures и Jump Crypto.

Mark Britto also took part in the financing. (Mark Britto) and Gary Marino (Gary Marino) from PayPal, Asiff Hirji (Asif Hirji) from Coinbase, Simon Taylor (Simon Taylor) of 11:FS and Nick Milanovich (Nik Milanović) from Google Pay. Besides, personal investment made by Rex Salisbury (Rex Salisbury) from a16z.

Conduit creates an API - a software tool, which should provide fintech companies, neobanks and traditional financial institutions have quick and easy access to DeFi. According to a statement from Conduit, With this tool, companies will be able to quickly and easily adapt their existing products to the decentralized finance ecosystem.

“API Conduit will allow fintech companies to expand their capabilities in the cryptocurrency industry without having to redesign their existing platforms from scratch.”, – said one of the partners of Portage Ventures Stephanie Chu (Stephanie Choo).

Conduit plans to raise additional funding and begin expansion in the US and Latin America. Recall, that in April last year, data provider API3 and the Open Banking platform entered into a 10-year partnership to connect banks to the blockchain via API and use bank data in DeFi and Web 3.0.