Web3 Wallet Zerion Closes $12M Series B Round Led By Wintermute Ventures

Zerion enables users to manage their DeFi and NFT portfolios all on one platform.
Image source: Zerion

Quick take:

  • Polymorphic Capital, Coinbase Ventures and Alchemy Ventures participated in the round.
  • Zerion launched last May accompanied by a generative NFT that evolves as users make transactions in their wallets.
  • DeFi investors, NFT collectors and Web3 builders can track their portfolios and trade hundreds of assets with the wallet. 

Mobile-first Web3 wallet Zerion today announced the closing of a $12.3M Series B funding round led by Wintermute Ventures, the investment arm of an algorithmic liquidity provider for digital assets, Wintermute.

The round saw additional participation from Placeholder, Mosaic, Yunt Capital, Polymorphic Capital, Coinbase Ventures and Alchemy Ventures. Angel investors included 1inch Network’s Sergej Kunz, Anton Bukov, Orest Gavryliak and Grégoire Le Jeune, while web3 Studios served as financial advisor.

The company plans to use the funds to continue developing the wallet by leveraging advanced data and an intuitive design. Zerion told The Block that the new funding will provide a runway for about two years. 

Commenting on the latest fundraise, CEO and co-founder of Zerion, Evgeny Yurtaev said: “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.”

Since its founding in 2019, Zerion has enabled DeFi investors, NFT collectors and Web3 builders to track their portfolios and trade hundreds of assets on the platform by connecting as many crypto wallets as they want. Zerion is non-custodial, giving users full control of their digital assets.

The launched its wallet last May accompanied by a generative NFT that evolves as users make transactions in their wallets and raised $8.3 million last July. Zerion claims that it has grown from $47 million in 2019 to more than $1.5 billion today since adding swaps to its web and mobile apps. It also claims that over 60,00 Zerion wallets holding more than $100 million have been created in less than six months since the launch of the wallet.

“With a holistic experience in mind, Zerion is embarking on an ambitious plan to cover the entire user journey by providing untapped alpha opportunities while ensuring transaction security through dapp connectivity and safety checks before signatures,” said Zerion’s Head of Product Andrey Balyasnikov said in a press release.

Balyasnikov did not elaborate on the kind of dApp connectivity and safety checks that would ensure transaction security on Zerion.

Zerion’s lead investor Wintermute made headlines last month for falling victim to a $160 million hack with over outstanding DeFi debt to several parties, according to a Coindesk report. However, there are no formal agreements or partnerships between the two parties.

NFTgators reached out to Zerion about how exactly it will ensure the wallet’s security but did not receive a response by press time.

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