Reef is a global footwear and apparel brand that specializes in sandals, shoes and apparel for men, women and children. It captures the essence of the beach, providing instant comfort, style and versatility for casual surfers and beach lovers alike. The company creates casual shoes and apparel that combine functionality and fashion with technology and eco-friendly materials.

Reef’s 30-year legacy was born from the idea of Fernando and Santiago Aguerre, entrepreneurial brothers from South America who love surfing and beach culture, to create high-quality sandals for an active lifestyle. To make their idea a reality, the brothers moved to Southern California to run the Reef brand and set up production in Brazil’s São Paulo in 1984, where they first produced the iconic sandals that made Reef a leader in open-toed shoes.

UAE-based blockchain startup Defi Reef has launched a $10 million accelerator program for Web3 projects built on Reef Chain.

The program, managed by Reef Labs, aims to support, develop and invest in promising Web3 developers, teams and projects in the Middle East.

The current geopolitical landscape in the MENA region has encouraged the growth of regional blockchain networks, which have an important role to play in driving Web3 adoption. Reef is ideally suited to provide enterprise-grade solutions with highly scalable, cost-effective transactions, extensible EVMs and update-by-chain features that encourage inventive models to leverage blockchain technology. In addition, the surprisingly low entry threshold for dApp developers has made Reef one of the most developer-friendly ecosystems.

Reef, founded in 2020 by Denko Manci, is a blockchain startup dedicated to making Web3 accessible to the next billion users.

In 2021, Reef raised $20 million in an initial coin offering (ICO) from Alameda Research.

In two rounds, Reef raised a total of $39.1 million in funding. Reef is funded by eight investors: 3i Group, The Carlyle Group, Viventures Partners SA, Cowen Group, Cisco, Viventures, Net Fund Europe and Finaventures. Reef acquired Verve on March 22, 2000. Eric Wiseman is executive vice president of Reef. Reef is ranked 137560 on Crunchbase. Reef was acquired by VF.

May 19, 2023


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