The TECHdotMN team would like to introduce you to each of the startups featured in the upcoming BETA showcase. Over the next couple of weeks, we will highlight each company, so you can get a better idea of the talent, hardwork, and dedication held within each of these startups.
The fifth company to be highlighted in this series is: Definer
DeFiner is a globally available, decentralized lending marketplace designed to securely borrow and lend digital assets through smart-contract on the blockchain.
Tell us the story of how and why you started your company.
Blockchain never fails to fascinate me. I got my first Bitcoin back in 2013. I was curious about Bitcoin and just wanted to play around with it. Automation and the effectivity of transferring asset globally mesmerized me. With the automated network, transaction and settlement cost will be significantly lowed and the service quality will be significantly improved.
When the concept of blockchain and smart contract came up back in 2015, I just cannot get my mind off it. I believe each generation has own wave to catch and create greatness for the world. For millennials, it is blockchain, a global internet for value exchange.
Then came 2016, Ethereum blockchain goes alive and the smart contract functionality was well supported. I was also working on my CFA exams at the time. Then these two things came together. I thought to myself: There is an emerging digital asset market. So there must be a need for capital allocation and movement going forward. The technology is close to be ready for it. And, there it was – I had the light bulb moment of the concept of Decentralized Finance. Since then, I’ve been working on creating a start-up that focusing on decentralized finance innovator with the ability to define the future of finance. That was the birth of DeFiner.
What’s your most recent success or milestone hit?
1: DeFiner did soft launch in June and active user is growing 200%+ month by month, now with over 900 monthly active users.
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2: DeFiner recently won the first place at Detroit Fintech Competition.
Where do you see your startup in 1 year?
- Over 100,000 monthly active users
- Annual revenue cross 1 million mark
- 200 daily Transactions,
- Add 10 more new full time works
For more information: Definer
