Phaver Raises $7M in Seed Funding


Phaver, a Helsinki, Finland-based builder of a gateway to make onboarding to web3 social platforms easy, raised $7m in seed funding. 

Backers included Polygon Ventures, Nomad Capital, Symbolic Capital, Foresight Ventures, Alphanonce, dao5, Kyros Ventures, Aulis Ventures, among many others.

The company intends to use the funds to continue to expand operations and its development efforts.

Led by CEO Joonatan Lintala, Phaver is a Web3 social app purpose-built for the permissionless and non-custodial ecosystem within the next-gen internet. It supports decentralized social graphs such as Aave’s Lens protocol and CyberConnect as well as various other on-chain assets.

Having launched in May 2022 during Lens protocol’s mainnet launch, Phaver’s “Web2.5” mobile app allows anyone to sign up with familiar Web2 logins and no wallet allowing to onboard users to Web3 step-by-step. After starting their journey, the users can:

  • Broadcast posts to blockchain social networks like Lens after minting and connecting an on-chain decentralized profile, for additional reach and immutability
  • Have full ownership of one’s social graph, on the protocol level, through the decentralized profile secured by the blockchain
  • Showcase one’s NFT collection
  • Use various other on-chain assets to prove authenticity and credibility 
  • Create gated communities based on various rules and on-chain assets (in Q4-23)
  • Wallet-to-wallet direct messages via XMTP (in Q4-23)

As of September 2023, Phaver’s app has received more than 250,000 downloads and accounts for a majority share of Lens protocol mobile app posts.