When was Defy founded?

Defy was founded in 2019 and raised its 1st funding round 2 years after it was founded.

Where is Defy located?

Defy is headquartered in Bengaluru, India. It is registered at A/4M I G KHB Colony, 5th Blk, Koramangala, Bangalore, Bangalore, Karnataka, India, 560034.

Which legal entities is Defy associated with?

Defy is associated with WALFIN TECH PRIVATE LIMITED.

How many employees does Defy have?

As of Aug 31, 2025, the latest employee count at Defy is 16.

Is Defy a funded company?

Defy is a funded company, having raised a total of $6M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Nov 18, 2021.

When was the latest funding round of Defy?

Defy's latest funding was a $***** Seed round on Jan 01, 2022, with participation from 1 investor.

What is the annual revenue of Defy?

Annual revenue of Defy is less than ₹10 Cr as on Mar 31, 2025

Where does Defy rank among its competitors?

Defy ranks 5th amongst 90 active competitors, of which 13 are funded. It stands 4th in terms of total funding among its competitors. The most recent competitor to raise funding was fomo, which secured $75M in May, 2026.

Who are the top competitors of Defy?

Defy's top competitors include BingX, fomo and Limitless. Among them, fomo secured the most recent funding round in May, 2026.

Defy - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Provider of a social crypto exchange platform. It provides users with a platform that aims to create a fair, efficient, and transparent system for investing in cryptocurrencies like Bitcoin and Ethereum, allowing users to navigate the crypto world in a social and enjoyable manner.

Website: defy.club
Social
Email ID: *****@defy.club
Registered Address: A/4M I G KHB Colony, 5th Blk, Koramangala, Bangalore, Bangalore, Karnataka, India, 560034

Key Metrics

Founded Year

2019

Location

Bengaluru, India

Stage

Seed

Total Funding

$6M in 2 rounds

Latest Funding Round

Seed, Jan 01, 2022, $*****

Investors

Y Combinator & 13 more

Ranked

5^th among 90 active competitors

Annual Revenue

0 - ₹10 Cr as on Mar 31, 2025

Employee Count

16 as on Aug 31, 2025

Similar Companies

BingX & 180 more

View Defy's full profile

Defy is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
WALFIN TECH PRIVATE LIMITED CIN: U72900KA2021FTC148758 , India, Active	Jun 25, 2021	0 - ₹10 Cr (As on Mar 31, 2025)	16 (As on Aug 31, 2025)

Defy has raised a total funding of $6M over 2 rounds. Its first funding round was on Nov 18, 2021. Its latest funding round was a Seed round on Jan 01, 2022 for $*****. 1 investor participated in its latest round. Defy has 13 institutional investors and 1 angel investor.

Here is the list of recent funding rounds of Defy:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jan 01, 2022	7089143	Seed	6596935	3260856	5995846	5075972
Nov 18, 2021	1944474	Seed	5548764	6782417	Goat Capital & 3 more	Gemba Capital & 6 more

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View details of Defy's funding rounds and investors

The founders of Defy are Bhagaban Behera, Sriharsha Setty and Nakul Kelkar.

Here are the details of Defy's key team members:

Bhagaban Behera: Former Co-Founder of Defy and founder of 6 other companies, including RenderNet AI, Monk AI and Walrus. They serve on the board of 1 company.
Contact Info: 1 email address and 1 phone number
Sriharsha Setty: Former Co-Founder of Defy and founder of 4 other companies, including RenderNet AI, Walrus and Walrus Labs. They serve on the board of 1 company.
Contact Info: 1 phone number
Nakul Kelkar: Co-Founder of Defy and founder of 3 other companies, RenderNet AI, Walrus and Walrus Labs.
Contact Info: 2 email addresses

View details of Defy's Founder profiles and Board Members

Defy's employee count trend

Defy has 16 employees as of Aug 25. The total employee count is 23.0% more than what it was in Aug 24. Here is Defy's employee count trend over the years:

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Top competitors of Defy include BingX, fomo and Limitless. Here is the list of Top 10 competitors of Defy, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	BingX 2018, Melbourne (Australia), Unfunded	App-based social trading platform for traders	-	-	65/100
2nd	fomo 2024, New York (United States), Series B	Broker based mobile trading app for cryptocurrencies, memecoins, and altcoins	$96.3M	Benchmark, Index Ventures & 10 others	56/100
3rd	Limitless 2021, Lisbon (Portugal), Seed	Provider of social crypto trading platform	$17M	1confirmation, Public Works & 10 others	56/100
4th	Noones 2023, Dubai (United Arab Emirates), Unfunded	Peer-to-peer cryptocurrency trading platform	-	-	55/100
5th	Defy 2019, Bengaluru (India), Seed	Provider of a social crypto exchange platform	$6M	Better Capital, Goodwater Capital & 12 others	53/100
6th	Kikitrade 2020, Kowloon (China), Series A	Social trading platform for cryptocurrencies	$18M	AppWorks, Cherubic Ventures & 16 others	48/100
7th	Vibra 2021, Nigeria, Seed	App-based platform for trading in cryptocurrency	$6M	Cadenza, Lateral Frontiers & 13 others	47/100
8th	FlipItMoney 2020, Gurugram (India), Acquired	App-based stock market trading and analytics platform for individuals	$2.87M	Kotak Neo, YMS Finance & 5 others	43/100
9th	MoonXBT 2021, Cayman Islands, Unfunded	App-based derivatives trading solutions for cryptocurrency	-	-	42/100
10th	Torum 2018, Bangsar (Malaysia), Seed	Social media platform to connect cryptocurrency users	$1.45M	KuCoin, Waterdrip Capital & 15 others	39/100