Housecat Raises $3.4M to Help Bridge DeFi, Investment Management

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Sam Reynolds

Follow @thesamreynolds on Twitter

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.