Crypto investing platform Grizzly.fi has raised $26m in its ‘Community Fair Launch’, a launch strategy aimed at attracting attention of high-profile DeFi investors.
Grizzly.fi claims this is the best performing launch on the Binance Smart Chain without a launchpad.
The FinTech company collected four-times more than the previous record holder and makes it the 10th biggest BNB holder.
Following the close of the funds, the team plans to continue the development of its ecosystem and support the adoption of its product offering.
Grizzly.fi claims to Differentiate itself from the market through its focus on usability, security and scalability.
Its crypto platform simplifies investing in the DeFi space and aims to disrupt the industry through yield farming.
Grizzly.fi co-founder Andres Soltermann said, “The journey has been incredible so far. What started as a vision to ‘Make DeFi accessible to everyone’ is now finally taking shape. We will continue to build and break barriers to eventually reach mainstream adoption. In this process, our focus lies on utility, user experience, and security. People will be able to use our platform to earn stable yields with the greatest user experience possible.”
Earlier in the year, MoHash, a DeFi protocol that leverages crypto assets to offer global capital and liquidity, picked up $6m for its seed funding round. The funding was supplied by Quona Capital, Sequoia Capital India, Jump Crypto, Hashed Ventures, Coinbase Ventures, Ledger Prime and CoinSwitch.
The company provides access to global capital and liquidity to debt issued by non-bank lenders using DeFi as a tool.
Another DeFi-focused FinTech company to raise capital this year is Ondo Finance. It recently collected $20m for its Series A round, which was backed by Founders Fund, Coinbase Ventures, GoldenTree, Wintermute, Steel Perlot, Tiger Global and Flow Traders.
The company has built a novel primitive for decentralised structure products that offer choice between downside protection and enhanced returns.
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