April 17, 2024
Centrifuge, a platform for on-chain finance, has raised $15 million in Series A funding. The funding round was co-led by ParaFi Capital and Greenfield, with participation from other investors including Arrington Capital, Bloccelerate, Borderless Capital, Circle Ventures, Edessa Capital, Gnosis, IOSG Ventures, Modular Capital, ProtoCap, Re7 Capital, Scytale Digital, Skynet Trading, Stake Capital, The Spartan Group, TRGC, and Wintermute Ventures. This brings Centrifuge's total funding to $30.8 million.
With the new funding, Centrifuge plans to enhance its platform capabilities and expand its reach. The company aims to develop an institutional-grade lending market for RWAs, leveraging Base, an Ethereum layer two solutions incubated by Coinbase. This integration is designed to facilitate quick and secure onboarding of institutions to real-world assets, providing instant liquidity and borrowing opportunities while maintaining compliance with regulatory standards.
Centrifuge's strategic initiatives include driving product development to create a user-friendly fund management platform, fostering ecosystem growth through collaborations and industry summits, and expanding its team to accelerate innovation and adoption. The company is committed to creating a streamlined environment for trading, lending, and borrowing within the DeFi space, thereby enhancing the utility and accessibility of tokenized real-world assets.
About Centrifuge:
Centrifuge, based in Zug, Switzerland, is an on-chain finance platform specializing in tokenizing real-world assets. Since its inception, Centrifuge has achieved several milestones, including minting MakerDAO’s first real-world asset, structuring the first on-chain securitization, launching the RWA Market with Aave, and bringing the first credit fund’s operations on-chain with BlockTower. The company provides infrastructure and an ecosystem to tokenize, manage, and invest in a diversified portfolio of real-world assets.
Website: https://centrifuge.io/
X Account: https://x.com/centrifuge
X Followers today: 75,055
X Followers 30 days ago: 72,197
X Follower change: 2,858 (+3.96%)
About Investor
Investor: ParaFi Capital
ParaFi Capital is a venture capital firm investing in decentralized finance (DeFi). The firm focuses on projects that advance the adoption of blockchain technology and financial innovation.
Location: United States
Website: https://parafi.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Comments