FinTech news in tenderly category

The new offering is a sign of competition between web3 infrastructure providers heating up, as it puts the startup in direct competition with ConsenSys, the company that owns popular node-as-a-service provider Infura, and Alchemy, another widely-used node provider in the industry. Yasmin Razavi, a growth investor at Spark Capital who helped lead the firm’s investment in Tenderly, told journalist that the startup’s new offering came as a result of its developers finding they could not rely on existing node providers for their purposes and deciding to instead build out that capability themselves. The financing came just months after the startup’s Series A round and it was announced in the same month as Alchemy’s $200 million Series C extension, which valued the latter company at $10.2 billion. Blockchain infra startup Tenderly raises $40M after seeing 500% YoY revenue growth One aspect of Tenderly’s offering that differentiates it from other node providers is its transaction simulation platform, which Benčić said is already serving 50 million simulations per month to web3 apps such as Instadapp, Yearn, Safe and Yield.

Existing backers Accel (which led its Series A) and Point Nine Capital (which led its seed round) also participated, along with Abstract Ventures, Coinbase Ventures, Uniswap, Daedalus, Vercel CEO Guillermo Rauch, Optimism co-founder and CEO Jinglan Wang, Eric Ries, founder of Long-Term Stock Exchange and Tihomir Bajic, CEO of LTSE Software.