Based has secured $11.5 million in a Series A funding round led by Pantera Capital, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage. The capital is designated to scale Based's "SuperApp" ecosystem, which consolidates on-chain trading activities—including perpetuals, spot markets, and prediction markets—with real-world payment utilities. Built on the Hyperliquid blockchain, the platform aims to bridge the gap between decentralized finance infrastructure and everyday financial transactions.

Founded by Edison Lim and a team of 15, Based is built on Hyperliquid's blockchain infrastructure, offering users a seamless mobile-first experience that integrates perpetual futures trading, prediction markets, spot trading, fiat on- and off-ramps, and a crypto-linked Visa card—all within a single interface. Launched just eight months ago, the platform has already amassed over 100,000 registered users and 30,000 monthly active users across five regions, with a cumulative trading volume exceeding $40 billion and nearly $14 million in revenue from trading fees and card-related income.

The funding round, structured as equity with token warrants, marks a step up from Based's earlier $2.7 million raise in 2022 under its previous brand, Suberra, which focused on crypto payments. With this new capital, Based plans to double its headcount in marketing, product, engineering, and legal roles, particularly hiring AI engineers and payments regulation experts. A key focus will be expanding into North America while developing AI-driven "agentic commerce" features, including personal financial agents that analyze markets, execute trades, and optimize spending.

Check Web App: https://app.based.one/trade