Web3 Trading and Payment Application Based Completes $11.5 Million Series A Funding, Led by Pantera Capital

GateUser-6433627c · 2026-02-23T13:09:59+00:00

Based has completed a $11.5 million Series A funding round, led primarily by Pantera Capital, aiming to create a Web3 super app that combines trading, wallet features, and crypto payments. The platform leverages Hyperliquid infrastructure and integrates various financial services.

GateUser-6433627c

2026-02-23 13:09:59

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On February 23, Based, a Web3 trading and payment application built on Hyperliquid infrastructure, completed a $11.5 million Series A funding round. The round was led by Pantera Capital, with participation from CEX Ventures, Wintermute Ventures, and Karatage. Based co-founder and CEO Edison Lim stated that the funding round was initiated in Q4 2024 and completed last week, utilizing an equity and token warrant structure, with valuation undisclosed. Pantera secured an observer seat on the board. This marks Based’s new funding round following the $2.7 million seed and Series A rounds announced in 2022, during which the team operated under the Suberra brand, focusing on crypto payments. Built on Hyperliquid blockchain and trading infrastructure, Based positions itself as a consumer-facing Web3 “super app,” integrating trading, wallet functions, fiat on/off ramps, and crypto Visa cards into a single interface. The platform combines perpetual contract trading, prediction markets, and crypto payments.

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