- Euler announced it secured $8 million in a Series A round led by Paradigm.
- The funding is to help them bring their product to market and grow the team.
Euler, a capital-efficient permissionless lending protocol, announced it secured $8 million in a Series A round led by Paradigm. Paradigm is known for being an investment firm focused on supporting crypto firms, protocols, and currencies of the future.
The company announced the news on its official blog. According to the Euler team, the new funding will help them bring their product to market and grow the team.
In addition, Euler noted that Paradigm would deliver valuable experience, guidance. And also bring resources to help push Euler to the next level.
Aside from Paradigm, the Series A round also saw an attendance of the firm’s lead seed round investor, Lemniscap, and world-class angel investors. The list includes Cluster Capital, LAUNCHub Ventures, Anthony Sassano, Ryan Sean Adams, David Hoffman, Kain Warwick, Danilo Carlucci, Supriyo Roy, and more.
Euler also stated that it is excited to join the Paradigm family, which involves many well-known industry leaders. It includes Uniswap, Coinbase, Synthetix, Maker, Compound, Reflexer Labs, and many more.
Following this, the team noted that they are looking forward to integrating with these protocols and more as they introduce their lego block to the Decentralized Finance ecosystem.
Note that Euler features some innovations not seen before in DeFi. It includes reactive interest rates, permissionless lending markets, multi-collateral stability pools, MEV-resistant liquidations, risk-adjusted loans, and much more.