Ultrade, A Pioneer In The Emerging Defi-As-A-Service Infrastructure Market, Receives $2.4M Seed Funding
Ultrade, A Pioneer In The Emerging Defi-As-A-Service Infrastructure Market, Receives $2.4M Seed Funding
09/06/22, 4:21 PM
Location
new yorkMoney raised
$2.4 million
Round Type
seed
ULTRADE, a multichain DeFi-as-a-Service infrastructure company with a unique GTM strategy, has raised $2.4 million to date, with notable participation from the Algorand Foundation as a direct investor in the seed token round. ULTRADE launched its Testnet on the Algorand blockchain in late June, amassing thousands of users on Algorand, and plans to expand as a multi-chain platform.
Company Info
Location
new york, united states
Additional Info
And the one big issue all these companies face is the lack of network effects, causing them to spend an inordinate amount of money on user acquisition. With a B2B2C strategy, the company is developing a comprehensive DeFi experience that rivals centralized exchanges (CEX), while maintaining the non-custodial tenets of DeFi, all with a white-label model. The company has received to date more than 1,600 feedback submissions from users that included feature requests and UI improvement ideas as well as bug reports, using a professional user feedback system that was embedded in the platform.