The startup Nook, created by former engineers from the cryptocurrency exchange Coinbase, has announced that it has secured $2.5 million in investments from Coinbase Ventures, Defy.vc, and UDHC. The company’s valuation during the funding round has not been disclosed.
This is reported by Бізнес • Медіа
Nook positions itself as an innovative app for crypto savings, simplifying access to decentralized financial services (DeFi) like Aave. Such platforms allow users to lend their cryptocurrencies and earn interest in return.
Features of Nook: simplicity and security for users
The key advantage of Nook is its ease of use: registration is done via email rather than requiring a mandatory connection to a crypto wallet, making it more accessible to a wider audience. The first partner of the startup is the Moonwell platform, also founded by a former Coinbase employee.
“We found that the average user has to go through 14 steps to use a typical DeFi platform. We want to make this experience much simpler, the messaging clearer, and operate strictly within the regulatory framework,” said Nook co-founder and CEO Joey Isaacson in an interview with Fortune.
Before its official launch, Nook has already gradually connected over 50,000 users from its waiting list, who were earning up to 8% annual returns by placing their crypto assets through Moonwell. However, the company emphasizes that it does not guarantee such levels of profitability; nonetheless, these are the results users are currently experiencing.
Development and monetization plans
Currently, Nook operates for free for users, but in the future, the startup plans to implement monetization after growing its community. The funds raised will be directed towards enhancing the technological component, marketing, and expanding market presence.
The developers stress the importance of building trust and engaging with users before launching the commercial features of the platform.
For reference: in just one week in June 2025, fifteen different cryptocurrency projects raised a total of nearly $173 million in investments, indicating a high level of interest in the development of the industry.