February 11, 2025
Legend, a decentralized finance platform founded by former Compound executives, has raised $15 million in a seed funding round led by Andreessen Horowitz (a16z) and Coinbase Ventures. The company is developing a self-custody wallet integrated within its mobile application, offering users direct access to DeFi services without requiring multiple logins across various platforms. The funding will support team expansion and product development ahead of its anticipated launch.
The Legend app, currently in its test phase, is designed to provide users with embedded access to decentralized lending, borrowing, and trading services. It plans to integrate protocols such as Uniswap, 0x, Compound, and Morpho, eliminating the need for users to verify external applications individually. By curating a selection of pre-approved DeFi services, Legend seeks to minimize risks associated with decentralized finance interactions.
The company is focused on securing a listing in the Apple App Store and growing its user base. Future monetization plans include a subscription-based model. In a competitive landscape that includes projects like Infinex, Legend differentiates itself by prioritizing mobile-first accessibility rather than a browser-based platform. The newly secured capital will accelerate development efforts as the company prepares for market entry.
About Legend
Legend is a decentralized finance platform designed to integrate self-custody wallet management with direct access to DeFi services. Founded by former Compound executives, the platform enables users to interact with pre-integrated decentralized applications within a single mobile app.
Website: https://legend.xyz/
X: @joinlegend
About Investors
Andreessen Horowitz (a16z)
Andreessen Horowitz (a16z) is a venture capital firm investing across blockchain, artificial intelligence, and fintech sectors. The firm has backed major cryptocurrency projects, including Coinbase, Uniswap, and dYdX.
Location: Menlo Park, California
Website: https://a16zcrypto.com/
Coinbase Ventures
Coinbase Ventures is the investment arm of Coinbase, supporting early-stage startups in the cryptocurrency and blockchain ecosystem. The firm invests in projects aligned with its broader goal of expanding global crypto adoption.
Location: San Francisco, California
Website: https://www.coinbase.com/ventures
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