Enso raises $5 million to build decentralized social trading platform

DeFi • April 13, 2021, 5:39PM EDT
The Block

Enso Finance, a project aimed at creating a dedicated social trading platform on the Ethereum network, has raised $5 million.

Leading the round were VC firm Polychain Capital and the Dfinity Beacon Fund. The funding round involved participation from companies like Multicoin Capital, P2P Capital, and Spartan Group, as well as angel investors from Synthetix, Messari, Aave and others, according to an announcement post.

"Enso was created with the conviction that decentralized finance should not be constricted to whitelisted integrations but should remain completely open," the project team said in its post on Medium. 

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

The news represents the latest DeFi-focused project to attract interest from industry sources, including those that already operate in the DeFi space such as Aave and Synthetix. 

Earlier this month, Polychain led a funding round for Greenwood, a decentralized finance lending protocol that brought in $2 million in seed funding. 

Other DeFi-centric funding rounds in the past month include Element Finance ($4.4 million), Liquity ($6 million) and Vega ($5 million). 

About Author

Saniya More (pronounced: Saan-ya Mo-ray) is a quadrilingual journalist at The Block. She got her master’s degree from the Columbia University Graduate School of Journalism and did her undergraduate degree at the S.I. Newhouse School of Public Communications, Syracuse University. Her work has appeared in CBS News, Bangkok Post, Thai Enquirer, Globalists, Byline Times and other publications. When she’s not chasing a story, you will most likely find her biking, tweeting, taking photos or creating Spotify playlists for every occasion.