Berlin-based startup Unstoppable Finance has raised €12.5 million in funding. The Series A round was led by Silicon Valley-based Lightspeed Venture Partners and saw the participation of existing investors, including Speedinvest, Rockaway Blockchain Fund, Backed, Inflection, Discovery Ventures, Fabric Ventures and newly added Anagram.
The funding will be utilised to launch the company’s newly created decentralised finance (DeFi) wallet. The startup had raised €4.5 million in a seed round announced in October 2021, which allowed Unstoppable to develop the iOS version of its DeFi wallet.
Founded by Max von Wallenberg-Pachaly, Peter Grosskopf and Omid Aladini, the German fintech aims to bring DeFi to the masses with its self-custody wallet Ultimate. The mobile app offers access to a curated set of DeFi protocols, which are natively integrated to provide a seamless mobile investing and trading experience. The wallet was announced in early July and quickly garnered interest from over 300,000 beta users worldwide who joined the waitlist.
The multi-chain, fully non-custodial wallet will be launched in private Beta in the next few days, with the public launch planned for later this year. Initially launching on iOS, Ultimate will eventually be released for Android as well.
Co-founder and CEO Maximilian von Wallenberg-Pachaly said: “With this funding, we’ll pursue our mission to bring DeFi to retail investors around the world with our app Ultimate.”
Banafsheh “B” Fathieh, founding partner at Lightspeed Faction and advisor at Lightspeed Venture Partners added: “The team has an impressive track record of building great fintech and crypto products and we are very confident that they’ll build the missing conduit between the DeFi world and retail investors.”