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Rainbow Ethereum Wallet received $ 18 million in funding from VC Fund leadership.

Ethereum Wallet raised $ 18 million. The funding came from Serie A, led by Seven Seven Six, a VC fund launched by Reddit founder Alexis Ohanian. This wallet is like other wallets like MetaMask. And users can buy digital currencies using Fiat currency. Connect to decentralized applications (dApps) and invest in various tokens. Rainbow has stated that its focus is on designing what the user needs to experience.

One of the founders and CEO of the company, Christine Baroni, said in a statement:

There is still a lot of complexity in the Web 3 user experience that is unnecessary. Rainbow has focused on overcoming these complexities. There is still a lot to do, but the Rainbow is far beyond the reach of other wallets.

Ohanian of Seven Seven Seven said the design’s focus had prompted him to invest. And it’s called the best design compared to other wallets. The investment comes just after VC announced a $ 500 million cryptocurrency fund earlier this month.

The most economic exchange in Rainbow.

But other investors in launching this wallet are Vine founder Dom Hofmann’s Bloom Investment Holdings; Nikita Bier; Hyperguap; Uncommon Projects Capital; And Y Combinator. With the new budget coming to this wallet, Rainbow intends to focus more on its features, including integrating a swap aggregator. Ensure that Ethereum receives the most cost-effective exchanges and profiles through the Ethereum name service.

Source: theblockcrypto

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