Veda raises $18M to become the DeFi Engine for Financial Apps

We’re excited to share that Veda has raised $18 million, led by CoinFund, with participation from Coinbase Ventures, GSR, Maelstrom, BitGo, Animoca Ventures, Mantle EcoFund, and others. The round also includes over 50 angels from across the ecosystem, including leaders from Anchorage, Polygon, ether.fi, Lombard, and more.

This raise will help us bring DeFi yield to a much wider audience on fintechs, centralized exchanges, and other financial platforms.

The Gap We Saw

When we began tinkering with Veda early in 2024, the idea was simple: users should click one button inside the apps they already trust and start earning. No minting an asset on one platform, using a different site to find the best yield, bridging, learning the risks of a new strategy, or navigating an interface. DeFi’s complexity belonged under the hood.

We proved the concept when ether.fi embedded Veda’s first production vault. A single click routed deposits through multiple strategies, chasing the best eETH yields on Aave, Pendle, Uniswap, and beyond. $300 million of deposits in just a few short weeks confirmed a pattern we suspected all along: the right product inside the right interface unlocks exponential growth.

And the results speak for themselves:

• Over $3.5 billion in deposits
  
  
• 100,000+ users
  
  
• 10+ vaults with $100 million or more each
  
  
• Integrated by ether.fi, Plasma, Lombard, TAC, Turtle Club, Mantle, and more

Vaults have moved from a niche experiment to the default chassis for on-chain financial products, and Veda is the engine that powers them. The vault category is now one of the fastest growing segments in DeFi, and Veda is the undisputed leader.

The DeFi Engine for Financial Apps

Wallets, dApps, fintechs, and exchanges have been approaching us with one question:

“Can we plug your vaults into our interface?”

They come to Veda because they need flexible rails that can route to any asset, on any chain, with any strategy, giving them the freedom to launch any on-chain yield product. With a single Veda integration, partners can roll out a new LRT on Monday, tap into a fresh yield strategy on Wednesday, and join a pre-deposit campaign on Friday. Alongside flexibility, they also require uncompromising safeguards for their users and a proven track record of securing billions of dollars.

This raise will help us double down on enterprise clients accelerating the next generation of integrations. Specifically:

• Broaden the strategy options by accessing both onchain and offchain yield sources
• Offer enhanced enterprise services
• Scale the platform’s capabilities to delight builders

What Comes Next

As more financial value moves on-chain, the ability to offer secure, transparent, and flexible yield products is becoming foundational infrastructure. This is how we will unlock DeFi for the world: by making it invisible to the user and indispensable to the application.

And we are just getting started.