August 8, 2022

Compound raised $ 25 million from Andreessen Horowitz

Compound raised $ 25 million from Andreessen Horowitz

The decentralized finance ecosystem or DeFi has become one of the most talked about areas in 2019, and At present, its valuation is more than $ 650 million. Compound is one of the leading players in this space.

San Francisco company reportedlyraised $ 25 million in the framework of a series A financing round from the popular venture firm Andreessen Horowitz. This means that Compound was able to convince an influential investment company in the future of DeFi.

Over the past few months, the lending marketand loans in the crypto industry has grown significantly. In a recent Fortune interview, Robert Leshner, the founder of Compound, said the organization has assets valued at more than 150 million. Currently, the startup intends to make the services provided more accessible to the mass population. Lesner added that the organization is currently moving towards integration with large exchanges so that customers can borrow their digital assets.

Following the announcement, Chris Dixon, partner Andreessen Horowitz, said:

Compound is an open credit for everyone in the world.a protocol that allows anyone to earn interest on their money bypassing banks. We have been working with Robert and his team for more than two years and we think that they are world-class technologists and entrepreneurs.

The founder of Compound, in turn, noted that the hierarchy of the company will not be able to significantly affect the lending protocol, not to mention traditional banking systems.