Zen Capital Leads Seed Round of Avalanche-Based DeFi AvaxFi -Breaking
- Zen Capital led the Seed Funding Round of AvaxFi’s Avalanche-based DeFi Platform.
- AvaxFi wowed Zen Capital with its promise of “disrupt[ing] the world of finance.”
- Zen Capital is an investor in crypto-investment juggernaut Pantera Capital.
Zen Capital, the venture capital fund associated with cryptocurrency investment giant Pantera Capital has announced that it will support AvaxFi’s seed financing round. AvaxFi is a network-based decentralized finance platform.
According to information obtained by CQ, Zen Capital supported the said DeFi startup as it showed promise in “disrupt[ing] the world of finance.”
Tomas Martunas is Zen Capital’s managing partner.
The Seed Round of AvaxFi is a great opportunity for us to be involved. AvaxFi native DeFi platform, created by Avalanche, allows you to leverage your digital assets and provide collateralized loans to those who aren’t eligible for traditional lenders. It also grants financial inclusion to the poor in developing countries.
For its part, AvaxFi asserted that its team will display a fully automated lending protocol to DeFi customers on top of utilizing Avalanche’s speed and scalability. DeFi will also introduce its own native token, Avfi in order to lower transaction costs.
AvaxFi representatives also confirmed that the platform will be compatible with tokens from the ERC 20 standard.
Zen Capital invested not only in AvaxFi, but many other startups. Some successful companies within the Pantera Capital partner’s portfolio include NFT games SolChicks, Mars4, Ertha, SpellFire, and more. Zen Capital invested in Soldex (decentralized exchange) as well.
AvaxFi has revealed to the world that they are planning on pursuing a private financing round. AvaxFi did not provide any further information on the private round or the seed round. However, it said that they will soon announce details.