With 260M users globally, the market capitalisation of the crypto economy stands at $2T. However, the economic benefit from this ecosystem is not distributed evenly.
Housecat raises €3M
Here’s where Finnish crypto startup Housecat comes into play with its new crypto asset management platform. The platform aims to democratise crypto investment strategies for users, empowering individuals to become asset managers.
Ahead of its launch, Housecat announced that it has raised €3M funding in a pre-seed round from BlueYard Capital, Inflection, Notation Capital, and 3KVC, as well as several angel investors and early backers of Ethereum Foundation and Polkadot.
“The majority of existing asset management products don’t work for the millions of users who will eventually take crypto into the mainstream. Our mission is to democratize the best crypto investment strategies for everyone, while at the same time empowering anyone to become an asset manager”, says Ville Vesterinen, CEO and Co-founder of Housecat.
Democratising crypto investment strategies
Founded in 2021, Housecat is building an open crypto asset management platform, where anyone can either be an asset manager and earn fees based on their fund performance or mirror the investment actions of these asset managers.
The platform widens access to the best investment opportunities in crypto to those without expert knowledge by mirroring successful asset managers with their money. The best-performing asset managers can leverage their skills to gain a following and earn performance fees from everyone who mirrors their wallets without the burden of actually managing anyone else’s funds.
Cathouse says asset managers can set their performance and asset management fees.
“Anyone can be an investor regardless of how much or little they know about crypto. 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 doesn’t have time or the technical expertise to follow all the different projects, tokens, and investment opportunities. Whether you have yet to buy your first coins or have been staking, investing, lending, or otherwise deep in DeFi, Housecat is for you”, concludes Vesterinen.
Housecat will start onboarding the first investors in March 2022. The protocol is now in beta use. The company’s remote-first team is currently distributed between Helsinki, Zug, and Berlin.