Helsinki-based crypto startup Housecat just finished the pre-seed funding round with 3 million euros. The company is now backed by BlueYard Capital, Inflection, Notation Capital, and 3KVC. The Finnish company is ready to launch its protocol which is now in beta use. The protocol simply enables users to monitor decentralized finance actions of others and also their own trades. The company’s motive is to create a platform that encourages individuals to become asset managers even though they know little about crypto.
Housecat raises 3M€ pre-seed to widen the access to crypto investing
February 16th, 2022 Helsinki, Finland – Crypto startup Housecat has announced today their pre-seed round of 3M€. With a remote European team, the company is building a platform that allows users to mirror the trades and DeFi actions of other participants by simply linking their wallet address with that of a more experienced asset manager. The company raised 3€M from BlueYard Capital, Inflection, Notation Capital, and 3KVC as well as a number of angel investors and early backers of Ethereum Foundation and Polkadot.
With over 260 million users worldwide, the market capitalisation of the crypto economy stands at 2$ trillion. However, the economic benefit from this ecosystem is not evenly distributed. Housecat will tap into the potential with their new crypto asset management platform. The platform, built for people from all walks of life, widens access to the best investment opportunities in crypto to those without expert knowledge by mirroring successful asset managers with their money.
“The majority of existing asset management products don’t work for the millions of users who will eventually take crypto into the mainstream. Our mission is to democratize the best crypto investment strategies for everyone, while at the same time empowering anyone to become an asset manager”, says Ville Vesterinen, CEO and Co-founder of Housecat.
Through the platform an interested coinvestor needs to link their wallet, specify the investment amount and within seconds their money is managed alongside leading fund managers.
The best performing asset managers can leverage their skills to gain a following and earn performance fees from everyone who mirrors their wallet without the burden of actually managing anyone else’s funds. Asset managers can set their own performance and asset management fees.
“Anyone can be an investor regardless of how much or little they know about crypto. We have built Housecat for ourselves and for everyone like us who would like to tap into the incredible financial opportunity that is crypto – but who don’t have time or the technical expertise to follow all the different projects, tokens and investment opportunities. Whether you have yet to buy your first coins or have been staking, investing, lending or otherwise deep in DeFi, Housecat is for you”, concludes Vesterinen.
Housecat will start on-boarding of the first investors in March 2022. The protocol is now in beta-use.