Defi Company Blueprint Finance raises $9.5 million from PolyChain Capital
Unlike traditional finance, it’s not as easy as putting money in a savings account and making money profitable in holding crypto. To confirm returns in the crypto space, holders must take many complicated steps to attract programs that can lend crypto to interested borrowers.
So, New York-based crypto startup Blueprint Finance is trying to make Crypto investors easier to own. The company announced on Monday it has It was raised $9.5 million will be participating from YZI Labs in the funding round led by PolyChain Capital. Binance Laband Vanek.
Blueprint FinanceFounded in 2023 by CEO Nic Roberts-Huntley, it released two products called Concrete and Glow. This is intended for Crypto investors to make money on their holdings using decentralized finance, or Defi. Defi refers to financial services such as lending and borrowing that take place on blockchain and that are done without the involvement of a central bank.
The popular forms of defi are lending and borrowing. There, investors can be interested in holding crypto by lending crypto to borrowers who need short-term capital. The borrower pledges to provide the benefits of the loan. To ensure that the lender will get the money back, the borrower will secure the loan using his or her code. If the value of the collateral falls below a certain threshold, the borrower will be automatically settled, forced to repay the loan, and the collateral will be sold.
Blueprint Finance, and other Defi companies, are trying to eliminate complexity and maximize the returns that arise from their own products that arise from these programs. “The big premise here is how to give pure retail the best utility from digital assets in terms of systematically, the easiest access and their return on capital?” Roberts Huntley said. luck.
Concrete, the first Blueprint Finance product released in early 2024, has been particularly well-known. Ethereum Virtual machines such as Ethereum, Base, Polygon, etc.
Earlier this year, Blueprint Finance launched its second product called Glow. This is a rebranded and updated version of the Solana blockchain-based lending platform called BluePrint Finance, called Jet Protocol, called I’ve got it 2024. Glow focuses on allowing investors Solana An ecosystem that lends, borrows and trades within one platform.
Both concrete and glow generate revenue by charging fees to manage the lending and borrowing process by charging investors a performance fee when they receive the return on the loan.
In recent years, the crypto loan market has grown to overflow The $36 billion industryand many companies are trying to capitalize on the growing institutional interest in Defi services. Major US Crypto Exchanges in 2023 Coinbase, Release Lending programs especially for institutional clients. There are other popular lending programs available to the average retail investor, such as Morpho and Aave.
Blueprint Finance will spend the money raised in this round hiring new employees, engineering and marketing, Roberts-Huntley said.
Roberts Huntley refused to disclose the company’s annual revenue and valuation during this round. Blueprint Finance previously raised $7.5 million in 2024, bringing the company’s total funding to $17 million so far.