Social web3 app Phaver raises $7M from Polygon and Dao5

Phavera application which wants simplify access to social networks Web3has just completed a tour de table from 7 million dollars to a valuation from 80 million dollars.

This Thursday, Phaver has announced that it has raised $7 million from a myriad of major players in the crypto ecosystem, including Polygon’s VC arm, Nomad Capital, Dao5, Swissborg Ventures, and Symbolic Capital. The deal values the start-up at $80 million.

Today, we are delighted to announce that Phaver has closed a $7 million seed funding round to further accelerate the adoption of social web3.” congratulated the Finnish start-up on X.

Launched in spring 2022, Phaver provides easier access to decentralized social networking protocols, such as Lens Protocol and CyberConnect, through a single app available on iOS and Android.

Difficult to use for the uninitiated, the web3 social networks usually also require a crypto wallet to register.

The Phaver decentralized social application offers you the best of Web3 without the complex UX that usually accompanies it,” thus proclaims the project.

On TechCrunchJoonatan Lintala, Phaver’s CEO, announced that the company’s newly-raised funds would be used to expand its workforce, accelerate product development and forge new alliances.

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“In order to drive real adoption, the user experience needs to feel like a normal social app, not a high-tech one,” he explained.

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