Enso Finance

$5 million

Round Private equity round Domain Chain Venture Capital Date April 14, 2021 Region Unknown

Investors Polychain Capital, Dfinity Beacon Fund, Multicoin Capital, P2P Capital, Spartan Group, Zola Global, The LAO, AngelList, Synthetix, Status, Fantom, Nexus Mutual, Aave and Messari

Enso Finance raises $5 million

It is reported that Enso Finance is an application designed for social transactions on decentralized financial protocols.

Enso Finance has raised a total of $5 million. The round was led by Polychain Capital and Dfinity Beacon Fund, with participation from Multicoin Capital, P2P Capital, Spartan Group, Zola Global, and The LAO. In addition, some of the project’s angel investors also participated, including AngelList, Synthetix, Status, Fantom, Nexus Mutual, Aave, and Messari.

Multicoin Capital partner Spencer Applebaum mentioned the venture capitalists’ support for Enso Finance:

It’s great to support Connor, Gorazd, and the Enso team. They have successfully opened up DeFi asset management by removing the whitelist and making all DeFi networks composable. While there are other platforms that focus on active or passive strategies, Enso is customizable. With just one click, anyone can become a fund manager.

DeFi scenario + social trading

"Social trading" is a key technology of Enso Finance's business model. Enso Finance will provide a platform for traders to interact. Traders will be able to see other people's strategies, copy professionals' trades or diversify their investments. In addition, Enso Finance will launch metastrategies, providing huge space for composability.

Enso co-founder Connor Howe outlined the revolutionary core of this approach: Composability is one of the most magical and unique aspects of DeFi. With Enso, users can lower the barriers to capturing composability by collecting all major decentralized financial platforms and track the best traders on these platforms or simplify the process of creating novel strategies between platforms.