Crypto startup Nook raises $2.5 million from Coinbase Ventures, defy.vc, and UDHC
Three former engineers at crypto exchange Coinbase left the company earlier this year to start their own venture. On Wednesday, the team announced its new project: A crypto savings app called Nook, alongside $2.5 million in funding from venture capital firms Coinbase Ventures, defy.vc and UDHC. The company declined to disclose its valuation in the round.
Nook seeks to make it easier for non-crypto native users to increase the amount of their crypto holdings through services like Aave, which let users lend their crypto to borrowers in exchange for interest.
Joey Isaacson, CEO and co-founder of Nook, told Fortune that his team estimates that a user must go through 14 different steps to gain access to the average lending platform….
