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Solv Raises Over $4 Million In Series A Round To Bring Voucher Finance To DeFi -Breaking

by Mike Robinson

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Solv raises over $4 million in Series A round to bring voucher finance to DeFi

Solv Protocol is happy to announce that the Series A round was completed by renowned venture investors Blockchain Capital and Sfermion.

Solv Protocol has announced that it raised $4 million in a series-A round from top investors like Blockchain Capital and Sfermion. These funds will give the project a head start in pioneering “voucher finance” for DeFi. Solv, a DeFi protocol that allows users to trade and mint NFTs representing financial ownership (a.k.a. vouchers).

Solv Protocol raised additional capital from foundations like DeFi Alliance (TheLao), CMT Digital and CMSholdings as well as Apollo Capital, Shima Capital and SNZ Holding. Spartan Group, Axia8 Ventures were also co-investors.

The project was funded with $1 million by Spartan Group and IOSG Ventures shortly after its founding.

Mike Meng is the Solv cofounder

Solv’s strong global network of investors has helped to make vouchers a reality. That’s why we’ll continue working to make DeFi 2.0 an ‘era of Vouchers.’”
Blockchain Capital General Partner Spencer Bogart

ERC-20 tokens would not be a suitable standard for the inclusion of these contracts on-chain as the majority of financial contracts are highly customized. 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.’”
Dan Patterson, Sfermion’s General Partner:

Sfermion has been privileged to work with Solv to create the necessary primitives and tools to support financial-NFTs in the future. NFTs are now semi-fungible thanks to the new ERC 3525 standard. This opens up a wealth of potential financial uses-cases that were previously unknown.
Dan Patterson, Sfermion’s General Partner

Gumi Cryptos Capital General Partner Rui “Ray” Zhang:

“NFTs are the perfect medium to express structured financial products on-chain. The SOLV team has created the first standards allowing for the construction of these products — like bonds, convertible notes, and usable vesting tokens — to be built safely and efficiently.”
Solv will use this round’s funds to launch new vouchers, expand globally, and recruit more developers and designers. One of the project’s missions is to build a voucher ecosystem for the users of DeFi and to bring maturity to the infrastructure of DeFi.

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