Vauld, a cryptocurrency-based lending and decentralised finance (DeFi) platform that provides its users with a customer-centric banking solution leveraging blockchain, has raised $2 million in a funding round to expand in India.
The Singapore- and Bengaluru-based company raised this capital from a clutch of investors, which include Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos Capital and LuneX Ventures
Other participants in this round include Robert Leshner- and Taun Chitra-managed Robot Ventures, CoinShares, Better Capital, New Form Capital, and IntoTheBlock CEO Jesus Rodrigues, Vauld said in a statement.
The startup will use the capital to focus on hiring and expanding its presence in India, as well as expand to underpenetrated markets and promote the adoption of digital tokens and cryptocurrencies as a legitimate asset class.
“We also look forward to closely working with the commodities and banking regulators in the country and ensure our partners are and remain fully compliant through the changing regulatory landscape,” Darshan Bathija said.
“Vauld’s vision is to make cryptocurrency the preferred instrument of banking by making it simple to use and interoperable with the current banking infrastructure,” Pantera Capital partner Paul Veradittakit said.
Founded by Darshan Bathija and Sanju Sony Kurian, Vauld allows users to lend various cryptocurrencies and earn interest on them. It is also seeking to become a holistic DeFi platform that will offer payments, credit, and trading.
Prior to this, the company raised $500,000 from Singapore-based LuneX Ventures and a few India-based angel investors.
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