Social crypto exchange Defy raises $5.5-M

Bengaluru-based fintech startup Defy has raised USD 5.5 million (around INR 40.79 crore) from Y Combinator, Goat VC, JAM Fund and Goodwater Capital. Others who participated in this round include Gemba Capital, Night Ventures, GMO Venture Partners, Olive Tree Capital in addition to existing investor, Better Capital. Defy, available for Android phone users, aims to build a social platform around crypto to make the subject considerably less intimidating. It allows users to create their profiles and share their portfolios with friends and followers.