Solvo, a Lithuania-based app that provides access to crypto investments, raised $3.5M in Seed funding.
The round was led by Index Ventures, with participation from CoinFund and FJ Labs.
The company intends to use the funds to expand operations, as well as to build its product offering.
Founded by Ayelen Denovitzer (CEO) and Shailendra Sason, Solvo provides an iOS app that enables crypto investments. It also functions as a wallet that supports the buying, selling, deposit and withdrawal of the 10 highest quality crypto-currencies with an easy interface.
The initial app release will combine risk-adjusted exposure to quality crypto assets with a simple user experience with the following key products:
- Vaults: A yield generating product, aimed at investors who want to take a long-term holding in high-quality coins including Solana and Cardano, with more to come. Vaults is designed to generate annual returns of up to 8% depending on the currency selected.
- Bundles: A product that provides diversified exposure to a basket of high quality investments in different areas of crypto such as Blue-chip projects, DeFi, and Metaverse & Gaming. Bundles is for those seeking exposure to a specific part of the crypto market but don’t know how to identify or access them.
The company has submitted its Crypto Exchange, as well as Crypto Custody registrations.
FinSMEs
29/29/2022