Braavos Raises $10M to Build Easy-to-Use Wallets on StarkNet

Braavos, a Web3 wallet built atop the highly-used StarkNet Layer-2 protocol has raised the sum of $10 million in a new financing round, coming off as one of the high-growth protocols on StarkNet to receive such funding.

According to an email update shared with Blockchain.news, the financing round was led by Pantera Capital, with participation from Road Capital, BH Digital, DCVC, Crypto.com, Matrixport, and Starkware.

With many startups currently working to ensure the infrastructures available in the Web3 ecosystem are easy to use and friendly enough to fuel the continuous adoption of the technology across the board, startups like Braavos are jumping into the ring to provide a highly functional and easy-to-use self-custodial wallet.

The Braavos wallet enables its users to access DApps, and directly exchange tokens into the United States Dollar while also giving developers an enabling environment to access tools that they can use to build new products and test them out using the wallet. 

“Crypto today is still too technical and complex for many users—requiring them to deal with seed phrases and security keys, suffer from low error tolerance, and educate themselves on non-trivial DeFi protocols. Our mission is to eliminate these high friction hurdles and provide users with the smooth experience they deserve while preserving the core crypto values of decentralization and self-custody,” said Motty Lavie, Founder, and CEO, of Braavos. 

Per its solution, ecosystem growth, and network of high-profile investors and partners, the Braavos vision is to ensure every Web3 user has a friendly experience when using Web3.0 wallets. 

The wallet seeks to demystify the complexity associated with other self-custodial wallets and eliminate the monopoly exercised by wallets linked to centralized exchanges with its simplicity across the board.

In a bid to edge out other competitors, the Braavos wallet is available on mobile, and on a web browser, and is easily accessible to all users irrespective of how they are connecting to the internet.

Image source: Shutterstock