Argent, a mobile Ethereum wallet, announced today it has closed a $12 million Series A funding, led by Paradigm. Also participating in the Series A include Robert Leshner, founder of Compound, and existing investors: Index Ventures, Creandum and firstminute.
Paradigm’s previous investments include decentralised exchange Uniswap and Layer 2 technology provider, Starkware. With the new funding, the Argent team will continue to work on making DApp onboarding as seamless as it is for the best-centralized apps today.
“We started Argent two years ago because we could see that crypto had the potential to be the future of money and the internet. Bypassing banks. Breaking down barriers. Exchanging money as easily as a message. But. Crypto had some major problems: Seed phrases. Gas. Windows 95 interfaces. It was too complex and too insecure. So we built the first smart wallet. We used smart contracts to provide the ease of use and security of the best new bank apps — without the bank. We removed seed phrases and gas, and introduced daily transfer limits, wallet locking, and one tap integrations with Maker, Compound and Kyber. We kept Argent invite-only so we could speak to as many people as possible and shape the wallet based on their feedback. We are massively grateful for the community’s early support and insights. We genuinely couldn’t have built Argent without you. Once we got increasingly confident with the direction we knew it was time for the next step.”
– Itamar Lesuisse, Co-founder at Argent