Housecat, a crypto startup that allows users to mirror the trades of an experienced asset manager, closed a 3 million euro (US$3.4 million) fundraising round Wednesday.
- The Helsinki-based platform allows any professional asset manager or aspiring asset manager to create their own operation, CEO Ville Vesterinen explained to CoinDesk.
- After users link their wallet to Housecat, they can “subscribe” to an asset manager. The manager's trades will be mirrored in the wallet, with the asset manager earning fees based on performance and the value of assets under management.
- “We have built Housecat for ourselves and for everyone like us who would like to tap into the incredible financial opportunity that is crypto – but who don’t have time or the technical expertise to follow all the different projects, tokens, and investment opportunities,” Vesterinen said in a release.
- Fund managers never custody the user’s funds, which removes the burden as well as licensing and regulatory requirements from the operation.
- “You can think of it as Substack for asset management,” said Vesterinen, referring to the platform that allows writers to start paid newsletters.
- Housecat will start onboarding its first investors in March. The protocol is now in beta, its developers told CoinDesk.
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