Redefine’s platform is a firewall in the field of DeFi and is initially intended for institutional investors operating in the industry. It performs automated risk analysis, monitors changes in the market in real time and even actively saves funds in the event of a cyber attack.
The system emphasizes the automation of due diligence and risk monitoring processes – which have been carried out manually so far, and allows investors to invest in the latest projects and monitor the risks involved in their positions optimally.
Redifine works in collaboration with top companies in the field such as Fireblocks and has started working closely with a number of prominent beta customers, such as Celsius Network, to target the product and fully adapt it to market and customer needs.
Shira Berzis, co-founder and CEO of Redefine: “Creating a safe environment for merchants is critical to the development of the DeFi domain, which is another important step in the implementation of the crypto ideology. The vision is to create an egalitarian society in which everyone has access to financial products, without the need for the mediation of third parties who sometimes operate in discriminatory and self-interested policies. “
The raising was led by Ribbit Capital from Palo Alto, and with the participation of Jump Capital and ParaFi Capital at a value of $ 50 million. Ribbit Capital is a well-known venture capital fund that focuses its investments in the fintech and blockchain industries, and has proven experience as an early stage investor in companies such as Coinbase, Robinhood and Chainalysis.
ParaFi Capital and Jump Capital, are well-known American funds that focus on early-stage investments in fintech and blockchain companies through their venture capital arms. This funding comes in addition to a $ 3 million pre-seed round raised in June last year, led by More VC and Accomplice Blockchain, which also participated in the current round.
The company employs 14 people at a development center in Israel and the United States, most of them with backgrounds in IDF technology units. The funds raised will be used for expansion in Israel and New York, recruiting employees for research and development.