JellyFi, a capital-efficient DeFi lending protocol that will soon enable uncollateralized crypto loans, closed a seed funding round of $4.4M.
The round was led by Lemniscap, and joined by ParaFi Capital, Tioga Capital, White Star Capital, DeFiance Capital, True Ventures, Digital Currency Group, Genesis, Divergence Ventures, AngelDAO and several angel investors.
The funds will be used to support JellyFi’s growth through R&D, key hires, and performing multiple audits.
Founded in 2021 by Alexis Masseron, CEO, JellyFi addresses capital inefficiencies in the DeFi lending market. With JellyFi, liquidity providers (LPs) will benefit from high returns than overcollateralized lending platforms, while having granular control over their investment portfolios. Lenders will be able to perform their own risk assessment, choose who they lend to, and specify their lending rate. Therefore, lenders will not have to lend to borrowers they don’t trust, or expose themselves to unnecessary defaults because they were outvoted during loan approval. There will also be a vetting process that will add an additional level of trust for lenders.
FinSMEs
13/12/2021