Qiro Finance, a decentralized finance (DeFi) company, has raised $1.2 million in its pre-seed round for their new venture, Qiro Finance, led by Alliance, an early-stage web3 accelerator, with involvement from entities like Druid Ventures, Escape Velocity (EV3), Trident Digital and CMT Digital.
Additionally, Qiro Finance raised a $100,000 MATIC grant from Polygon under the ‘Polygon’s Village Build Ideas Program’ and a $50,000 development grant from the Aptos Foundation.
The proceeds will be used for development and expansion of Qiro Finance. The primary emphasis will centre on product development and ecosystem expansion in preparation for the forthcoming mainnet launch within the current year.
Established by Akshay Poshatwar and Nishikant Bahalkar, Qiro Finance focuses on building a decentralized credit protocol to connect emerging market asset originators (NBFIs) with global investors by leveraging blockchain and stablecoin rails.
Qiro is developing a decentralized credit protocol with the capability to facilitate a wide range of tokenized RWA-backed credit applications. This is achieved by unifying asset originators, investors, and credit underwriters within a single framework.
