Singapore Wrestlers Raise $1m from Insti Investors for DeFi Startup Powerbomb Finance

Powerbomb Finance builds money robots and helps users constantly earn bitcoin or ether cash flow from DeFi platforms. We have raised $1m from institutional investors including venture funds, a crypto exchange, and a bank.

The cornerstone investor this round is Delta Blockchain Fund, a product-driven global fund backing early stage Web3 projects. Other investors include venture fund Cove Capital, centralised exchange Zipmex, and Finext Eastern Bank.

Kavita Gupta, founder of Delta Blockchain Fund, had this to say:

“At Delta we believe in multi chain and bringing the capability of DeFi to institutions and masses. With our investment in Powerbomb we aim to have their DeFi strategies reach a million users with their easy to use interface and well defined investment strategies for non-DeFi experts.”

We currently have $3m TVL, offering smart contract based treasury management services to family offices, NFT projects, and individual users.

“Zipmex is mainly retail focused and we wanted to support a team that simplifies DeFi for the masses,” said Zipmex Head of Investments Paul Tan in a statement about backing Powerbomb Finance.

Powerbomb Finance was founded by 2 wrestlers from Grapple MAX Pro Wrestling Singapore, who named their app after a popular wrestling finisher. They met their core developers at a hackathon in 2021, and the team works remotely. The Powerbomb code has been audited and is live on Avalanche and Harmony blockchains.