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Secured Finance announces that its seed funding round was oversubscribed, raising $4.0 million.
FREMONT, CA: Secured Finance, a platform provider for cryptocurrency loans and derivatives, has announced that its seed funding round was oversubscribed, raising $4.0 million. GSR Markets, a prominent cryptocurrency trading firm, open-source research, development, and deployment laboratory Protocol Labs, venture capital firm FinTech Collective, global technology investment firm HOF Capital, and strategic investment arm Huobi Ventures co-led the successful raise, which saw demand more than double Secured Finances initial target. Many high-profile individual investors were also there, like Nomura Holding America Board Member James DeNaut, South African entrepreneur and Civics CEO Vinny Lingham, Twitch Co-Founder and Founder of Goat Capital Justin Kan, Quantstamp CEO Richard Ma, CoinList Chief Operating Officer Scott Keto, and Juan Benet, Creator of IPFS and Filecoin.
Masakazu Kikuchi, CEO, and Co-Founder, Secured Finance, said, "Today, we stand at a critical juncture in the journey to democratizing the finance system. Our vision is to become leaders in decentralized finance and to spearhead this movement through the creation of an institutional-grade P2P cross-chain settlement protocol. The tremendous interest and backing of our investors and strategic partners will enable us to grow the Secured Finance team and secure regulatory approval and legal compliance for our platform across jurisdictions globally."
Secured Finance was founded in 2020 to revolutionize decentralized finance by providing investment-bank-grade financial products and services for cryptocurrencies and digital assets. It creates P2P derivative exchanges for loans, forwards, swaps, and options utilizing decentralized ledger technology (DLT).
Rich Rosenblum, President, and Co-founder at GSR Markets said, "Since 2009, most developed economies have been operating with record low interest rates. In the digital asset space, rates are double or even triple digits, which opens up a lot of valuable investment opportunities, particularly in fixed income. Secured Finance has the right team and vision to bring fixed income products to DeFi while also solving some of the most difficult liquidity problems in the space."
Fady Yacoub, Co-Founder and Managing Partner at HOF Capital, said, "By introducing fixed-rate lending and yield curve structures to the DeFi ecosystem, Secured Finance will enable traditional financial institutions to sell crypto-linked products, unlocking hundreds of billions of dollars in additional annual transaction volume for DeFi instruments."