Huma Finance, an income-backed DeFi procotol, has scored $8.3m in a seed funding round led by Race Capital and Distributed Capital.
Also taking part in the funding round was ParaFi Capital, Folius Ventures, Robot Ventures and Circle Ventures.
The company’s first product launch is an on-chain factoring market, and they plan to use the funds to continue developing the platform and expanding its reach into new markets.
Huma’s initial launch partners include global financial technology firm Circle, and blockchain payment networks Request Network and Superfluid that are enabling borrowing against invoices and users’ incomes.
Huma Finance CEO and co-founder Erbil Karaman said, “Equal access to financial opportunity is a fundamental right for humanity. There’s still a lot of progress to be made to make this a reality. My team and I have a very strong conviction that blockchain-based financial technologies will replace the archaic and highly centralized financial systems we have today. This transition makes instant credit markets possible with a much greater level of accessibility and capital efficiency.”
Richard Liu – co-founder and CTO of Huma Finance – added, “Decentralized finance leverages smart contracts to automate lending and settle transactions in seconds with full traceability. This is simply magic. The impact to humanity will be massive as we bring these technologies closer to serving real world needs of the 99%.”
Gateway.fm, a decentralised blockchain infrastructure node provider, has recently scored $4.6m in a seed funding round led by Lemniscap.
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