Yerevan, Armenia — April 12, 2022 — CoinStats is a well-known crypto portfolio manager that has raised $3.2 Million from top investors. It executes a pivot in order to allow DeFi use cases for its 1.2million active users.
Alex Pack, Hack VC led the round. Other funds included Mike Dudas’s 6th Man Ventures. This funding was crucial in the financing of CoinStats’ new killer features. They aim to increase DeFi’s user base to millions.
This raise follows a remarkable 2021 for CoinStats. It grew its user base 8x to reach 1.2M monthly users and cumulatively tracks $500 billion worth assets. (of which $20B are guaranteed to exist via synched exchange accounts). This allowed CoinStats to increase its revenue six times in 2021 and set it up to launch a new product line by 2022. To bring integrated DeFi features for its users, the platform will draw on its strength and user acquisition success.
Users can join DeFi protocols, and place funds directly on the CoinStats app to generate yield. CoinStats is a DeFi aggregator. It directs millions of users to the protocol listed on the app. These protocols are carefully selected to provide the best and most lucrative DeFi opportunities. This could help DeFi become mainstream, as it remains a niche sector despite the fact that it attracts billions of high-net worth individuals.
Narek Gevorgyan (Founder & CEO at CoinStats) stated, “With the new funds, we will expedite product development and grow delivering better financial products for our users.” “I am grateful for the support and input of our investors. Their belief in CoinStats vision drives us forward.
Alex Pack, Founder and CEO of Hack VC, stated that CoinStats is the most popular crypto portfolio manager app. “Crypto has been the first new asset class since over a century. It is diverse with thousands of tokens and NFTs and dozens upon dozens of DeFi apps and other DApps that allow investors to use their tokens. CoinStats provides the infrastructure necessary to enable users to track their cryptocurrency transactions.
CoinStats was founded in 2017 and is a free cryptocurrency portfolio manager app and wallet. It allows 1.2 million monthly active users to monitor their crypto, DeFi and NFT holdings from more than 300 exchanges and wallet providers in one place. CoinStats has over $500 billion in crypto assets and is poised to be the only platform that allows users to access the constantly-evolving crypto and DeFi worlds.
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