Based Raises $11.5 Million Series A Led By Pantera To Scale Its Composable Web3 Consumer Superapp

Funding will accelerate global expansion, deepen on-chain financial infrastructure, and position Based to become the gateway to Hyperliquid and the default financial app for on-chain users worldwide.

Based, a Web3 consumer SuperApp for trading and spending crypto globally, today announced it has raised a $11.5 million Series A financing round led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage. The new capital will accelerate Based's expansion into new markets and expand its on-chain financial infrastructure offerings with the goal of scaling the platform into the default financial app for on-chain users worldwide.

Based lets users Trade Everything, Spend Everywhere. The platform unifies perpetuals trading, prediction markets, and real-world crypto spending, including a live crypto card, into one seamless interface. Just eight months after launch, the platform has grown to more than 100,000 registered users and 30,000 monthly active users across five regions, generating approximately $40 billion in cumulative trading volume.

The traction reflects a shift in how users are engaging with crypto. Rather than toggling between fragmented tools i.e. a DEX here, a card there, a separate portfolio tracker, based users trade, earn, and spend within one unified and curated experience. Built natively on Hyperliquid's high-performance execution environment, the platform delivers the speed and liquidity of institutional-grade infrastructure with a consumer-grade interface.

In addition to its consumer product, Based has begun extending its core stack to power third-party trading venues, including HyENA, a Hyperliquid-native perpetuals venue that has processed more than $1.5 billion in volume within a few months of launch. This validates the modularity and reusability of the platform's underlying architecture.

To learn more, users can follow Based on X and LinkedIn.

About Based

Based is a composable web3 consumer SuperApp. The platform enables users to trade on-chain markets and access real-world financial utility, while providing modular infrastructure that can be customized and deployed across partners and products. Built on Hyperliquid-native foundations, Based combines performance, composability, and user-centric design to scale the next generation of on-chain financial services.

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