Solv Protocol focused on voucher integration into decentralized finance protocols, shares the details of its fundraising campaign
The Solv Protocol, an ecosystem for trading vouchers, addresses bringing real utility to non-fungible token markets. His team carried out a fundraising campaign in several phases.
$4 million raised by Solv Protocol with Blockchain Capital on board
Singapore-based team Solv Protocol concludes its multi-stage funding campaign with top-tier venture capitalists and angel investors backing the start-up in its fundraising efforts.
Iconic VCs Blockchain Capital, Sfermion and Gumi Cryptos Capital co-led the cycle while DeFi Alliance, TheLao, CMT Digital, CMSholdings, Apollo Capital, Shima Capital and SNZ Holding, with Spartan Group and Axia8 Ventures also participating in the financing of Solv Protocol.
In total, the team secured $4,000,000. Earlier this year, in a preliminary funding campaign, Solv Protocol raised $1 million from Spartan Group, IOSG Ventures, Hashed and so on.
Solv Protocol co-founder Mike Meng is fascinated by the support given to his product by the global corporate investor community:
Over the year since its inception, Solv has built a strong network of investors and partners across the world, whose support is essential to the future of vouchers. That’s why we’ll continue working to make DeFi 2.0 an era of vouchers.
Leading marketplace for financial property NFTs
Spencer Bogart, Leading Investor, Blockchain Capital GP, highlights his enthusiasm for the vision and progress made by the Solv Protocol team:
The vast majority of financial contracts that exist today are highly bespoke which makes ERC-20 tokens an unsuitable standard to bring these contracts on-chain. By leveraging expressiveness of NFT metadata, the Solv teams work to build a reliable DeFi infrastructure and to, unlock the new territory of voucher finance.
The Solv protocol should be viewed as a decentralized marketplace for the minting and trading of non-fungible tokens (NFTs) associated with certificates of ownership of financial rights.
Solv’s NFTs represent an effective and resource-efficient way to store sophisticated financial designs—bonds, contracts and so on—on various blockchain platforms.
Since its launch in early 2020, Solv Protocol has been addressing this segment by issuing vouchers.
