Defi Ventures closes $17.7M in financing, rebrands to WonderFi 

Strategic investors in the round include TV personality Kevin O'Leary, Leonard Latchman, Argo Blockchain, BIGG Digital, Josh Richards and Animal Capital.

DeFi Ventures Inc. announced the closing of its previously announced private placement in which the startup raised aggregate gross proceeds of approximately $17.7 million. Strategic investors in the offering include Kevin O'Leary, Leonard Latchman, Argo Blockchain, BIGG Digital, Josh Richards and Animal Capital.

DeFi launched back in March, raising a $2 million seed round from Canadian angels and VCs, as well as strategic investors BIGG Digital and First Block Capital. The company is aiming to simplify consumer interaction with the emerging area of decentralized finance. “We seek to empower users to learn about, analyze and interact with DeFi in a simple way,” reads the startups marketing copy.

Co-founder and CEO Ben Samaroo said that the completion of this latest offering signals a validation of his startup’s business model and supports its “mission of creating better access to decentralized finance through our core principles of simplicity and education."

The firm also announced that it will change its name to “WonderFi Technologies Inc.” WonderFi is a nod to major investor Kevin OLeary’s nickname ‘Mr Wonderful’, according to Samaroo. 

In addition to the financing and rebrand, the company announced a reverse takeover of Austpro, with the resulting company (WonderFi) being listed on the NEO Exchange, a stock exchange based in Toronto and Canada’s third most active marketplace in Canada.

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