NEW YORK – SEPTEMBER 10TH, 2024
Fountain announced today that it has raised $3.5 million in a seed funding round. Its mission is to build a new Web3 operating system to drive the next wave of institutional adoption by providing tools to securely manage crypto assets and automate DeFi workflows. Fountain is currently in private beta and has seen adoption from some of the largest market makers and hedge funds in the industry.
This milestone follows Fountain’s graduation from Alliance, the premier crypto incubator, and includes investments from Foundation Capital, Caladan, Primal Capital, Druid Ventures, United Overseas Bank (UOB), MHC, NGC Ventures, Marin Ventures, Blockchain Founders Fund, and angel investors such as Rene Reinsberg, Co-Founder and President of Celo, and Nathan McCauley, Co-Founder and CEO of Anchorage Digital.
Founded in 2022, Fountain’s leadership team brings over 20 years of combined experience in DeFi and AI. Morgan Lai, CEO and Founder, is also the General Partner of Formulate Ventures and a former Partner at Foundation Capital. Since 2018, Lai has been actively investing in the low-code/no-code space, with multiple portfolio companies under Formulate Ventures.
First no-code automation builder for Web3, operationalizing all DeFi workflows instantly
The DeFi ecosystem faces numerous challenges as it continues to evolve. As on-chain operations mature to compete with centralized counterparts, the need for robust operations management tools becomes increasingly clear. Fountain’s platform is designed to address these challenges, offering powerful primitives to accelerate DeFi adoption and bring the world’s financial systems natively on-chain:
- Smart wallets – Fountain builds upon battle-tested and fully modular smart wallets that enable secure self-custody of assets through a multi-signature approval process.
- Policy engine – Easily delegate, manage, and track team member activity with custom policies, allowing full flexibility to define access controls and strictly enforce permissions.
- Automation builder – Fountain is the first in the market to offer a no-code automation solution for the Web3 industry, unlocking new levels of customization for both non-technical users and developers. The platform enables companies to seamlessly manage and automate treasury, risk management, and trading operations, making it easier for large institutions to adopt more complex strategies and take on riskier positions.
Unlocking institutional capital to efficiently and securely operate on-chain
The large inflow of capital from institutional players and the mainstream adoption of crypto have driven a surge in demand across all DeFi protocols. However, for investors familiar with traditional finance, the DeFi landscape presents several challenges, including security risks and susceptibility to market volatility.
‘As the cryptocurrency ecosystem continues to mature, we’ve both experienced and observed a growing need for firms capable of bridging the gap between traditional markets and this new financial ecosystem,’ said John Gu, CEO of Caladan. ‘Fountain fills that gap by developing tailored solutions that meet the unique needs of institutions. The expert knowledge the Fountain team has accrued over years of working in DeFi, trading, and AI will unlock a much higher degree of market functionality.’
‘There has been a paradigm shift, with operations moving from centralized services to DeXs and on-chain infrastructure,’ said Morgan Lai, CEO and Founder of Fountain. ‘As we believe the next wave of crypto adoption will come from enterprises and institutions, Fountain is building the next generation of middleware platforms, enabling organizations to securely operate on-chain. Crypto is one of the most volatile asset classes; when market conditions change, organizations must actively manage parameters such as collateral requirements and liquidation ratios to keep their assets safe.’
The future of decentralized finance depends on advanced tools that allow institutions to capitalize on growth opportunities while enforcing best practices to mitigate risks associated with emerging technologies. Fountain is accelerating this new growth in an ever-evolving landscape and is positioning itself as the market leader for enterprise solutions in the Web3 industry.
Sign Up for Private Beta
Fountain is currently running a private beta program working with some of the largest hedge funds and market makers in the industry. We provide white gloves service to help our clients set up their systems and workflow end to end. Sign up today for early access.
We’re Hiring
We are looking for exceptional talents to join our team. See more here.
About Fountain
Fountain is a NYC based seed stage company building the first Web3 operating system for enterprise and institutions to secure, manage and automate on-chain workflows.
For more information, visit www.fountainplatform.com
Contact:
CEO/Founder: Morgan Lai, [email protected]
