Credefi Announces Completion of a $1.8M Private Round and Prepares for Upcoming IDO
[PRESS RELEASE – Please Read Disclaimer]
Credefi – an innovative hybrid of FinTech Solution and DeFi Protocol connecting crypto lenders with small & medium business borrowers from the traditional economy, announced today it has closed $1.8 million in private financing as part of a successful funding stage that garnered significant interest from a variety of investors across multiple verticals like FinTech, crypto, legacy finance, and more.
The round was led by Marshland Capital with strategic investments from Moonrock Capital, Varys Capital, X21 Digital, Magnus Capital, Skynet Trading, LucidBlue Ventures, AU21 Capital, Peech Capital, Metrix Capital, Maven Capital, RR2 Capital; and angel investors like Heslin Kim.
The completion of the round marks an important milestone in Credefi’s journey, securing funding for the protocol development and setting the stage for the upcoming IDO. Credefi enjoys broad support from the investment community and DeFi heavyweights in particular, who see tremendous growth potential for the novel concept of a decentralized FinTech / DeFi hybrid protocol connecting crypto lenders with SME borrowers from the real economy.
To further boost its growth, Credefi has on-boarded seasoned advisors as Charlie Hu, Michael Sung, Matthew Land, David Marsh, Kenzi Wong, Pranay Sanghavi, Steven Enamakel, and Hristo Piyankov.
The funds raised in this round will help Credefi to advance the development of the platform and its commercialization, as well as open a brand new niche in the DeFi space by connecting DeFi with TradFi and resolving some of the key challenges they face today.
“Credefi aims to become the DeFi gateway for SMEs, opening the DeFi universe for real-economy companies and offering them a fully-fledged DeFi-based financial services suite. The successful raise and the healthy interest we have seen from leading blockchain and traditional investors demonstrate the dire need for a solution like Credefi and the DeFi industry’s recognition of the great potential of our platform”, highlighted Ivo Grigorov, Co-Founder & CEO of Credefi.
About Credefi
Credefi is a first mover in the DeFi space connecting crypto lenders with SME borrowers from the real economy. Credefi’s platform enables decentralized and secured lending to portfolios of business projects or individual companies, protecting lenders while providing them fixed APY.
The protocol resolves the key challenges that DeFi and TradFi are facing today: DeFi’s inconsistent, fragile yields that evaporate in bear markets and the difficulty for SMEs to get TradFi funding at normal interest rates or even at all.
OhNoRipple via https://www.ohnocrypto.com/ @Press Release, @Khareem Sudlow