DeZy raises US$2.2M in Pre-Sequence A funding spherical led by Leo Capital | e27

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The DeZy staff

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Singapore-based decentralised finance (DeFi) startup DeZy at present introduced that the corporate has raised not less than S$3 million (US$2.2 million) in Pre-Sequence A funding spherical led by Leo Capital with participation from Iterative Capital.

The corporate additionally welcomed angel buyers comparable to Michael Ng of Unagii, Tianwei Liu and Sharon Lourdes Paul of Xfers, Ishan Agrawal in addition to Nihit Nirmal and Kelvin Teo of Funding Societies.

Current buyers comparable to HH Investments, HY Sia, and DeFiance Capital additionally returned on this funding spherical.

This funding spherical adopted undisclosed funding from native buyers comparable to DeFiance Capital, HH Investments, Impiro, and angels comparable to Tranglo founder HY Sia in September 2021.

Additionally Learn: Demystifying NFTs and DeFi

In a press assertion, DeZy stated that it plans to make use of the funding to assist new product launches, develop its staff, and “proceed to redefine what finance might be for customers.”

Launched in 2021, DeZy is a platform that allows customers to transform their money into dollar-denominated secure cash, that are deposited throughout a variety of DeFi protocols. Absorbing each blockchain charges and foreign exchange fluctuation, DeZy gives as much as 5.65 a 12 months, with a 0 price and no lock-in product to clients in Singapore.

It was began by 4 co-founders Eric Dadoun (CEO), Harald Lang (CTO ), Sharmini Ravindran (CMO ), and Simon Landsheer (strategic advisor). The corporate goals to empower folks to “obtain significant financial savings, earnings progress and wealth accumulation” by simplifying decentralised finance.

That is claimed to allow customers to borrow, save, commerce, or make investments with out intermediaries comparable to banks or brokerages.

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Picture Credit score: DeZy

The submit DeZy raises US$2.2M in Pre-Series A funding round led by Leo Capital appeared first on e27.

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