Finterest, an Union City, CA-based provider of a crypto lending protocol available on the Internet Computer (ICP) built to support native Bitcoin borrowing and lending, raised $1.5M in Seed funding.
The round was led by Polychain Capital and 9Yards Capital.
The company intends to use the funds to continue expanding its team and building its platform ahead of its beta launch in January 2023 and official launch shortly thereafter. Features Finterest intends to develop with the proceeds include its multi-sig wallet and data oracle solution, FinnyFeed, that went live in October 2022.
Founded in 2022 by 24-year-olds Olliver Barr and Carl Sachs, Finterest is a native Bitcoin borrowing and lending platform operated on The Internet Computer, a blockchain network that can execute up to 11,500 transactions per second with a 1-second finality. The company delivers completely decentralized lending and borrowing options through code implementation while its approach to crypto lending enables users to borrow and lend native Bitcoin, ICP, and Stablecoins with ease.
FinSMEs
13/12/2022