Euler secures £5.8m Series A funding led by Paradigm to expand its developer team
Paradigm led the Series A financing for the decentralized finance protocol, with participation from Lemniscap and various angel investors.
Euler is a decentralized finance lending protocol that allows users to create custom lending markets for a wide range of crypto assets. The platform provides capital-efficient borrowing and earning opportunities while managing risk through automated features.
Euler has raised £5.8m in a Series A funding round led by Paradigm to prepare for its upcoming platform launch. The capital will be deployed to expand the developer team and integrate the lending protocol into the broader decentralized finance ecosystem. Lemniscap participated alongside several prominent industry angel investors, supporting the project's permissionless market infrastructure.
The protocol intends to address underserved crypto assets by enabling users to lend and borrow tokens without central governance limitations. Following incubation by Encode Club, the team plans to release the protocol before the end of the year and transition governance to a decentralized community over time.
From the founder
"Custom-built to support permissionless listing of almost any crypto asset, without governance limiting what people can lend or borrow."
Michael Bentley
Co-founder at Euler
Investor perspective
"The long tail of DeFi assets is enormous and underserved by existing lending protocols,"
Charlie Noyes
Investment Partner, Paradigm
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
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About the company
Euler
Euler develops a permissionless lending protocol for decentralized finance markets.