Web3 Transaction and Payment App Based Completes $11.5M Series A Funding Round, Led by Pantera Capital

BlockBeats News, February 23rd, Based, a Web3 transaction and payment app built on the Hyperliquid infrastructure, has completed a $11.5 million Series A funding round led by Pantera Capital, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage.

Based Co-founder and CEO Edison Lim stated that the funding round was initiated in the fourth quarter of 2025 and was completed last week, using a combination of equity and token-based warrants, with the valuation undisclosed. Pantera secured a board observer seat.

This marks a new round of funding for Based following its announcement of completing two rounds of funding totaling $2.7 million in 2022 when the team operated under the Suberra brand, focusing on crypto payments.

Based is built on Hyperliquid's blockchain and transaction infrastructure, positioning itself as a consumer-facing Web3 "super app" that integrates transactions, wallet functionality, fiat on/off ramps, and a crypto Visa card within a single interface. The platform combines perpetual contract trading, prediction markets, and crypto payments in one.