Cryptocurrency startup Zerion closes $12m Series B funding to build the best wallet for Web3 citizens

Zerion, the wallet for the most active web3 users, announced the closing of a $12.3 million Series B funding round led by Wintermute Ventures, the investment arm of an algorithmic liquidity provider for digital assets, Wintermute. The company plans to use this financing to advance the company's mission of building the best wallet for Web3 citizens by leveraging advanced data and an intuitive design.

Evgeny Yurtaev, CEO and co-founder, Zerion: "Wallets are a core part of the Web3 experience, but the tools have not evolved for the challenges and complexity of the space and modern use cases. As the number of decentralized applications increases, it becomes more difficult for users to follow their footprint across chains, NFT collections, and DeFi protocols. We believe that in an increasingly disparate Web3 space, wallets will become a dynamic place to track and manage it all, and Zerion's industry-leading wallet will set the standard."

For more than 5 years, Zerion has enabled DeFi investors, NFT collectors and Web3 builders to track their portfolios and trade hundreds of assets at the best rates. Since adding swaps to their web and mobile apps, trading volume through Zerion has grown from $47M in 2019 to more than $1.5B today. After raising $8.2 million in July of 2021, the Zerion team has been working on turning its wallet product into the primary interface for Web3. The wallet launch in last May was accompanied by the first-of-its-kind generative NFT that evolves as users make transactions in their wallet. Zerion's wallet empowers the Web3 citizens by allowing them to take control of their digital assets, identities and data. Over 60k Zerion wallets holding more than $100M have been created in less than six months since the launch of the wallet.

Evgeny Gaevoy, CEO and Founder, Wintermute: "In Zerion, we see the next generation of Web3 applications. The next frontier of blockchain is the user layer, and Zerion's cross-chain compatible, mobile-focused wallet enables users to easily participate in this ecosystem. Zerion is backed by a strong team with experience operating in DeFi, which is why we are confident in their vision and ability to deliver on integrations and functions behind the user layer, all while abstracting away, the often overwhelming, blockchain complexity."

The round saw additional participation from Placeholder, Mosaic, Polymorphic Capital, Coinbase Ventures and Alchemy Ventures. 1inch Network's Sergej Kunz, Anton Bukov and Orest Gavryliak also participated alongside Yunt Capital & Grégoire Le Jeune. web3 Studios served as the financial advisor.

www.zerion.io