Decentralised finance platform Gro has collected $7.1m in its seed round, which will support it hiring staff and deepening its products.
Galaxy Digital and Framework Ventures served as the lead investors, with participation also coming from Variant, Northzone, Nascent, a_capital and 3AC.
Also joining the round were a group of angel investors, including the founders of DeFi protocols Aave, Compound and Synthetix..
This capital injection will be used enhance its products. Its first protocol will enable access to optimised stablecoin yield and increased protection.
Gro’s mission is to empower people to easily create and share wealth through a combination of decentralised and legacy finance. It claims its products will deliver value propositions only seen in DeFi.
The FinTech claims that by using decentralised finance, consumers can put digitised pounds and dollars to profit from emerging financial services, without betting on the price of bitcoin. The transparent protocols enable for faster innovation and permissionless integration, which drive efficiencies that ultimately deliver more value to people, it stated.
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