Portals Raises $2M to Streamline DeFi Experience and Democratize Web3 Access

Portals Raises $2M to Streamline DeFi Experience and Democratize Web3 Access

Portals, a groundbreaking platform aiming to simplify the Web3 ecosystem, has recently completed a successful $2 million seed funding round. The round was led by Lightshift Capital, with participation from LongHash Ventures, Daedalus Angels, Poolside, Basement Labs, Mechanism Capital, and notable angel investors such as Emile Dubie, Mathieu Baril, Owl.eth, 0xMaki, Rudy Kadoch, David Dias, and more.

Transforming the DeFi Landscape with Portals

Thanks to the financial backing, Portals is set to continue reshaping the DeFi industry by making intricate DeFi activities manageable for all. Some of the standout features of Portals include:

  • Effortless multi-step transactions: Users can conveniently combine complex transactions like swapping interest-bearing assets, liquidity pool shares, vault assets, and other exotic instruments with just one click.
  • Vast staking opportunities: Portals supports staking to earn yield from over 20,000 options, constantly adding new platforms to the list.
  • Unrivaled Web3 data access: The Portals API provides crucial DeFi data, such as liquidity pool and token prices, contract positions, account balances, and more.

Empowering Developers and Users with the Portals API

Acknowledging the intricacies of Web3 technology for novices, the experienced Portals team has focused on making API integration as simple as possible for developers of any skill level. With support from Lightshift, engineering resources have been provided to create an API integration boilerplate, allowing anyone to kickstart their integration efforts. Consequently, developers can smoothly integrate Portals into their products while ensuring retail users can effortlessly access a wide range of DeFi opportunities.

Portals Joins Poolside Accelerator’s First Cohort

Portals has been selected to join Poolside Accelerator’s inaugural cohort, receiving $100,000 in funding along with mentorship in essential areas such as marketing, go-to-market strategy, token economy, and business development. Additionally, the program began in mid-April, and Portals is set to present its product at the Poolside Demo Day in early June to an exclusive group of investors.

Experienced Founders Spearhead Portals

Suhail Gangji, co-founder of Zapper, and Nabi Ozberkman, a DeFi expert with experience on the OlympusDAO team, founded Portals. The company intends to use the funding to accelerate product development and expand its team, further simplifying DeFi and making it accessible to everyone.