Finblox, a Hong Kong-based global crypto investment platform, raised a seven-digit funding round of undisclosed amount.
Backers included Sequoia Capital India, MSA Capital, Venturra Discovery, Coinfund, Saison Capital, Ratio Ventures and First Check Ventures and 13 other investors including notable angels like Xinshu Dong (Partner at IOSG and previously Co-Founder of Zilliqa), Ron Hose (Founder of Coins.ph), James Simpson (Founder and CEO of mStable), Quentin Vanoekel (Co-Founder of Helicap), Binh Tran (Co-founder of Klout and Partner at Ascend Vietnam Ventures) and Eddie Thai (early investor in Axie Infinity and Partner at Ascend Vietnam Ventures).
The company intends to use the funds to product development and also to build the global footprint with initial regional focus in Southeast Asia.
Founded by startup veterans Peter Hoang (CEO) and Dmitriy Paunin (CTO), Finblox is a high yield savings app powered by the digital assets – users are able to earn yield on their idle crypto holdings such as Bitcoin and USDC stablecoin. Currently, the app offers up to 10% Annual Percentage Yield on USD Coin and BTC, with payouts distributed daily. The returns are enabled through Finblox’s partnership with the financial institutions who borrow the crypto against posted collateral and trusted decentralized finance protocols.
User assets are secured by Fireblocks Inc. (“Fireblocks”), a SOC 2 Type II certified digital assets custodian with bank-grade security.
Currently in alpha, Finblox is available on both App Store and Play Store for iOS users and Android users respectively.
FinSMEs
11/12/2021