Argent, based in London, raises $40 million
Fabric Ventures and Skype co-founder Jaan Tallinn’s investment firm Metaplanet are leading the funding round. Existing investors Paradigm, Index Ventures and Creandum and new strategic backers Starkware, Jump Crypto and Animoca Brands participated in the round. The company previously raised $4 million in 2018 and $10.4 million in 2020, but the startup’s valuation remains undisclosed.
“Wallets will be central to value accumulation in Web3 as users become loyal to their wallet provider. And people in particular will prefer offers like Silver’s. Its smart and autonomous contract portfolio combines security, user-friendliness and low fees,” commented Anil Hansjee, General Partner at Fabric Ventures.
Argent will use the new funds to expand its DeFi and web3 offerings and make these solutions more user-friendly. A portion of the funds will also be used to hire in-house legal, financial and cash management expertise and to establish a new research team focused on Layer 2 protocols. America and intends to expand throughout the continent, starting with Mexico.
What is Money?
Argent provides an Ethereum mobile crypto wallet app that promises the security and flexibility of using a noncustodial wallet while eliminating the need to learn and memorize a seed phrase. The wallet is designed to be user-friendly. Because it uses zkSync, a form of Ethereum layer 2 scaling solution, users can interact with DeFi at a fraction of the transaction or gas fees charged by other wallets.
Argent has also developed the Argent X wallet, built on StarkNet, a competitive Ethereum scaling solution. With this infrastructure in place, he plans to create a super app that integrates a variety of verticals in the areas of decentralized finance (DeFi) and Web 3, including virtual real estate, gaming, decentralized autonomous organizations ( DAO) and non-fungible tokens. .