DeFi start-up Unstoppable Finance bags €12.5m

The Berlin-based start-up will use the fresh capital to accelerate its product offering

Cryptocurrency wallet                                 
The Series A round was led by Lightspeed Venture Partners, with participation from a mix of existing and new investors – Photo: Shutterstock
                                

Berlin-based decentralised finance (DeFi) wallet start-up Unstoppable Finance has raised €12.5m ($12.91m, £10.57m) as part of its Series A funding round to scale its investment platform and digital services.

Lightspeed Venture Partners led the round, with participation from existing investors Speedinvest, Rockaway Blockchain Fund, Backed, Inflection, Discovery Ventures, Fabric Ventures as well as new investor Anagram. 

The round follows the start-up’s €4.5m seed round it closed in October last year, which allowed the team to grow its headcount to 25 people and develop an initial version of its digital wallet. 

Investment in crypto firms continue despite market slowdown

While some crypto firms and exchanges continue to feel the crunch of a wider market slowdown, several others are accelerating ahead with newly-launched products and support from crypto-native investors.

Unstoppable Finance, which was founded by SolarisBank founder Peter Grosskopf, Omid Aladini and Maximilian von Wallenberg-Pachaly, is one of them, as it aims to disrupt within the sector with its non-custodial and user-friendly crypto wallet created for investments.

CEO Maximilian von Wallenberg-Pachaly said: “We are proud and excited to attract such prominent investors, especially during this tough market environment.

“With this funding, we’ll pursue our mission to bring DeFi to retail investors around the world with our app Ultimate. We’d like to thank both our old and new investors for their vote of confidence and trust in both our product and our mission.”

The start-up confirmed that its crypto wallet will launch in private beta in the next few days, with a further public launch planned for later this year. 

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