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A Wall Street Quant Turns His Crypto Firm Into a Unicorn

  • Gauntlet raises $23.8 million Series B at $1 billion valuation
  • Firm counts DeFi protocols Compound and Aave as clients
Tarun Chitra
Tarun ChitraSource: Tarun Chitra

Gauntlet, a financial-risk modeling platform for crypto lending, raised a new round of funding that pushed its valuation to $1 billion. 

The $23.8 million Series B round was led by Ribbit Capital, the company said in a statement Monday. Existing investors including Polychain Capital and Paradigm also participated.