News27 September 2021

DeFi protocol startup Ondo Finance secures $4 Million in Funding

DeFi protocol Ondo Finance secures $4 Million in Funding

Summary

· Ondo Finance has secured $4 million in funds

· Ondo DeFi platform offers access to higher returns and downside protection

· This latest funding round was led by Pantera Capital

· Funds to be used to accelerate adaptation of DeFi amongst mainstream investors

New-York based decentralized finance protocol startup Ondo Finance has secured $4 million in funds from the latest funding round.

Founded by Nathan Allman and Pinku Surana, this DeFi platform offers DeFi services solutions, giving users access to higher returns and downside protection with some investment classes.

"We have just scratched the surface of opportunity in DeFi with services like lending, trading, and basic derivatives. We see a huge opportunity to bring a wider array of products from traditional finance to DeFi and create new financial primitives. Ondo Vaults are our first foray into this. We are grateful for the support of our investors who recognize the immense potential for DeFi to democratize access to a wide range of financial services previously only accessible to institutions." – Nathan said.

This latest funding round was led by Pantera Capital, with other participating investors including CMS, Genesis, Digital Currency Groups, Divergence, CoinFund, Chapter One, Stani Kulechov, Bixin, The LAO, Protoscale Capital, Christy Choi, Diogo Monica, Josh Hannah, and Richard Ma.

"Fixed income remains the missing piece that decentralized finance needs to go mainstream. Ondo unlocks downside protection and relative certainty in forecasting returns for institutional investors looking to allocate to the attractive yields in the DeFi space. We are excited to back the Ondo team in their mission to bridge the worlds of DeFi and institutional finance." - Paul Veradittakit, Partner at Pantera Capital.

Ondo Finance will channel the new funds towards accelerating the adaptation of DeFi amongst mainstream investors by eliminating risk.

Kibet Elikana
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