Notional Finance, a New York, NY – based leader in fixed interest rate borrowing and lending on Ethereum, closed a $10M Series A funding round.
The round was led by Pantera Capital with participation from Parafi Capital, 1Confirmation, Spartan Group, Nascent, Nima Capital, and others.
The company intends to use the funds to build a team of finance and technology experts and to build new products.
Led by Teddy Woodward, CEO & Co-Founder, Notional is a fully decentralized ethereum-based protocol for borrowing and lending at fixed rates. In the three months since launching in mid-January 2021, the protocol has attracted more than $17M in TVL and executed $9.5M in loans.
Notional users are borrowing against their crypto to invest in their businesses, purchase land, and ditch their mortgage altogether by becoming their own lender.
FinSMEs
29/04/2021