MoHash, is a decentralised finance (DeFi) protocol that leverages crypto assets to offer global capital and liquidity, has picked up $6m for its seed funding round.
Quona Capital and Sequoia Capital India co-led the round, with contributions also coming from Jump Crypto, Hashed Ventures, Coinbase Ventures, Ledger Prime and CoinSwitch. Also joining the round were angel investors Balaji Srinivasan, Sandeep Nailwal and Jaynti Kanani.
Founded in 2021, MoHash provides access to global capital and liquidity to debt issued by non-bank lenders using DeFi as a tool. The company’s website claims that MoHash boasts higher returns for investors by tapping into high-growth debt markets. It claims there are between 6% and 10% base yields plus incentives for early adopters bringing total returns up to 20%.
Sequoia India managing director Shailesh Lakhani said, “MoHash is bringing real world assets to DeFi users globally and providing sustainable, uncorrelated, and hard to access yields on-chain for the first time.
“We think that this is exactly the type of product DeFi needs – one that leverages the strengths of blockchains and helps solve a real-world problem. We’ve loved working with them over the past few months and Sequoia Capital India is thrilled to co-lead this financing.â€
Earlier in the week, cryptocurrency exchange Unizen Exchange closed a $200m funding round, which was led by private equity firm Global Emerging Markets. The company raised the capital to bolster its innovation and marketing efforts.
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