Quick take:
- The Series A funding also attracted participation from Coinbase Ventures, Wintermute Ventures, and Karatage.
- Based is looking to position itself as the “gateway to Hyperliquid” and the default financial app for on-chain users worldwide.
- The Web3 consumer SuperApp allows users to trade and spend crypto globally.
Hyperliquid-focused ‘SuperApp’ Based has raised $11.5 million in a Series A funding round led by Patenra Capital, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage.
According to a press release seen by NFTgators on Monday, the company plans to use the fresh capital to accelerate global expansion and deepen on-chain financial infrastructure, as it bids to position itself as the “gateway to Hyperliquid” and the default financial app for on-chain users worldwide.
Base’s Web3 consumer SuperApp allows users to trade and spend crypto globally. Its platform unifies perpetuals trading, prediction markets, and real-world crypto spending, also featuring a live crypto card that brings everything into one seamless interface.
The company claims to have more than 100,000 registered users and 30,000 monthly active users across five regions, generating approximately $40 billion in cumulative trading volume, and it has only been eight months since its launch.
Commenting on the announcement, Edison, co-founder and CEO of Based, said in a statement: “Most crypto products today are designed for traders or builders, not for everyday people who want a complete financial life on-chain. And even when you can invest, moving that money back into your daily life is a nightmare.”
“We’re building Based so anyone, anywhere can access global markets and also use those funds to purchase things they actually need without jumping through hoops. One app to invest globally and spend locally. That’s what gets us up every morning.”
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