Donut
DeFi-based savings app
- 1-20 employees
- Fintech
- B2C
- Lending
- Blockchain
- Hollywood, Los Angeles, CA
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Company mission
Ever wondered why you get ~0.6% interest at your bank even though banks are worth billions? We did. Our generation needs better tools to achieve financial independence, so we created the easiest way to grow your wealth with DeFi, unlocking up to 8-10% APY.
Our take
In an era of historically low interest rates, traditional methods of making money off savings have ceased to become a viable option for many individuals looking to put their money to use. Many people earn less than 0.1% interest on their bank account, and are starting to get frustrated. Donut wants to change this. They believe that the future is in decentralised finance, AKA 'DeFi', a set of banking tools built on the Ethereum blockchain. This has raised much interest since the so-called "DeFi summer" of 2020, when it grew from one billion to $60 billion in assets, driven by an explosion of lending and borrowing protocols. Yet there is a problem: for many consumers, navigating this new world is overwhelming, difficult, and inaccessible.
Donut has set out to solve this. Their digital app lets anyone easily take advantage of high yield earning opportunities within DeFi's lending sector. Not requiring technical know-how, it is thus aimed at democratising lending on DeFi.
So far, Donut has looked really promising. Since the launch of its product in September 2020, the company’s user base and assets under management have seen 40% monthly growth. Following a large funding injection, Donut is now focusing on driving rapid user growth, as well as core product development.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- 🌍 Flexible remote work policy
- 💻 Custom equipment setup
- 🏖 Vacation days
- 💪 Company ownership
- 🎒 Company retreats
- 🏡 Coworking membership
- 👭 Working with diverse people
- 👩🏫 Personal development budget
- 🇺🇸 US / EU relocation
- 🧘 Wellness days
Funding (last 2 of 4 rounds)
Jun 2021
$2m
SEED
Sep 2020
$0.9m
SEED
Total funding: $4.9m
This company has top investors
Leadership
Neel Popat
(CEO)Having studied at Harvard and LSE, Neel began his career in investment, working at the likes of Rothschild & Co, European Capital and Graphite Capital. He is also a fellow at On Deck.