Cryptocurrencies

DeFi Analytics Platform Treehouse Financial Raises $18 Million

As decentralized finance (DeFi) grows in popularity, the number of consumers looking to get involved has grown considerably. Of course, that can require a bit of a learning curve. In turn, FinTechs that make the space more approachable have not only found success with customers but also investors. Such is the case with Treehouse Financial, which just announced its latest funding round.

This week, Treehouse announced that it had raised $18 million USD. The seed round was led by an “undisclosed large FinTech investor” while a long list of firms such as Mirana Ventures, Lightspeed, MassMutual Ventures, Binance, Global Founders Capital, Jump Capital, and more also participated. Following a $2.4 million pre-seed round closed last September, the company has now raised a total of $20.4 million.

Treehouse Financial launched just 11 months ago and has been working to make DeFi solutions more accessible — or as they put it, they’re “building the infrastructure required to enable everyday people to fully harness financial products and services made possible by DeFi.” For example, the firm’s flagship offering called Harvest allows users to manage their DeFi positions, track their portfolio, view risk metrics, and more. Additionally, the company says that its analytics platform provides data that were previously unavailable in DeFi and establishes a new standard. Currently, Harvest is in beta. Meanwhile, Treehouse reports growing to more than 100 employees.

Commenting on the investment round, Treehouse CEO Brandon Goh said, “We are grateful to have with us a group of partners with such deep technical expertise and networks across both cryptocurrency and traditional finance ecosystems. This funding round will enable us to execute on our vision to help users confidently navigate DeFi.”

Hemant Mohapatra and Marsha Sugana of investor Lightspeed said of the startups, “As the number of DeFi protocols, supported L1s, L2s, and bridges increase over time, Treehouse’s approach of building an in-house system-of-record for every DeFi user will become critically valuable and a great differentiator. On top of the technical accuracy is a beautiful, simplified dashboard experience optimized for desktop and mobile to cater to both advanced and retail investors.”

Currently, those interested in Treehouse and their Harvest platform can view a demo on the company’s website. While this demo certainly shows potential, it would seem as though investors have an even better idea of what’s in the works for Treehouse, leading to this impressive seed round. Considering that the firm went from founding to more than $20 million in funding in less than a year, there is definitely good reason to keep an eye on Treehouse and its potential impact on DeFi.