Crypto wallet provider Argent raises $40m Series B to build Web3 and DeFi 'super app'

Taylor Wessing has advised Argent Labs Ltd ('Argent') on its $40m Series B funding round to build a Web3 and DeFi 'super app' as well as lead its expansion into South America.

Argent attracted top crypto-specialist VC companies for its latest funding round; it was led by Fabric Ventures and Metaplanet and included new investors Animoca Brands and Jump Crypto alongside existing ones Creandum, Index Ventures and Paradigm. Taylor Wessing advised Argent on the financing round.

The crypto start-up, which was founded in 2017 by Itamar Lesuisse, Gerald Goldstein and Julien Niset, currently offers over 500,000 users a crypto wallet to buy, hold, sell and store cryptocurrencies and tokens. This latest investment will be for Argent to build a Web3 and DeFi 'super app', using the funding for product development, recruitment and expanding into South America.

Commenting on the funding round Josef Fuss, partner and co-lead of Taylor Wessing's international Technology, Media and Communications sector group, said: "The world of Web3 and DeFi is rapidly evolving; Argent's latest funding round means they will be a leader of this new frontier. Our significant multi-disciplinary experience in this area meant that we were able to support the client effectively. We're looking forward to seeing Argent's new 'super app' flourish."

 

Itamar Lesuisse, co-founder and CEO of Argent added: “For crypto to live up to its potential, it needs to break the stranglehold of big exchanges and incumbent wallets. This latest investment will enable us to double-down on product development, bringing more DeFi and Web3 use cases to the app, and enable us to expand into South America. We're very happy with the support Taylor Wessing was able to provide us as our legal counsel."

The team was led by partner Josef Fuss (Corporate), with support from associate Joshua Gertner and trainee solicitor Phoebe Sennett (both Corporate) alongside senior associate Kelly Burke (Commercial) and associate Katie Fry-Paul (Regulatory).