Fountain, the Web3 operating system serving enterprises and institutions, announced today that it has raised $3.5 million in a seed funding round. According to a press release today by the company, the seeding includes investments from Foundation Capital, Alliance DAO, Caladan, Primal Capital, Druid Ventures, MHC, United Overseas Bank (UOB), NGC Ventures, Marin Ventures, and the Blockchain Founders Fund. Fountain also received investments from Rene Reinsberg, Co-Founder and President of Celo, and Nathan McCauley, Co-Founder and CEO of Anchorage Digital.
As the De-Fi industry continues to rise in popularity and importance, it is even more important to operate and engage with De-Fi safely. Fountain’s platform is driving the next wave of enterprises, funds, and institutions to safely, compliantly, and efficiently operate on-chain. Fountain provides a smart contract multi-sig platform with a powerful no-code workflow builder. The platform enables companies to seamlessly manage and automate treasury, risk management, and trading operations, making it easier for large institutions to adopt Web3 best practices.
Fountain Serves As First Web3 Operating System For Institutions To Work On-Chain Safely and Securely
Fountain is a NYC-based seed stage company building the first Web3 operating system for enterprises and institutions to secure, manage, and automate on-chain workflows. The project’s leadership team brings over 20 years of combined experience in DeFi and AI. It is the first in the market to offer a no-code and low-code automation solution for the Web3 industry. Its operating system brings new levels of customization for both non-technical users and developers. This allows users to quickly build robust on-chain workflows without needing extensive time or a team of experts. Thus, users can engage in the De-Fi project with more complex strategies and take on riskier positions, unlocking more opportunities.
“There has been a paradigm shift with operations moving from centralized exchanges and services to DEX and on-chain infrastructures,” said Morgan Lai, CEO and Founder of Fountain. “As we believe the next wave of crypto adoption will come from Enterprise and Institutions, Fountain is building the next generation of middleware platforms enabling organizations to adopt on-chain operations. Crypto is one of the most volatile asset classes; when market conditions change, organizations need to update certain parameters, like collateral requirements and liquidation ratios, to keep assets safe. The future of decentralized finance depends on advanced, smart contract-based infrastructure.”
The $3.5M seed round funding will fund Fountain’s fuel development, user testing, and security audits while providing working capital to expand hires in sales, technology, and compliance. Additionally, Fountain is currently running a private beta program working with some of the largest hedge funds and market makers in the industry.
Furthermore, one of the investors in the seed round, Caladan, insists that Fountain’s system will fill in a hole in the De-Fi industry that is desperately needed. “As the cryptocurrency ecosystem continues to mature, we’ve both experienced and observed a growing need for firms capable of bridging the gap between traditional markets and this new financial ecosystem,” said John Gu, the CEO of Caladan. “Fountain fills that gap by developing tailored solutions that meet the unique needs of institutions. The expert knowledge the Fountain team has accrued over years of working in DeFi, trading, and AI will unlock a much higher degree of market functionality.”
The DeFi ecosystem faces numerous challenges as it continues to evolve. As on-chain operations mature to compete with centralized counterparts, the need for robust operations management tools becomes increasingly clear and essential. In response, Fountain is developing infrastructure that is both approachable and secure. Based in New York City, Fountain is seeking exceptional talent to drive innovation and lead the paradigm shift of bringing the world’s financial systems natively on-chain.
For more information on the system, visit www.fountainplatform.com. You can also directly contact Fountain CEO and Founder Morgan Lai at [email protected].
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