Decentralized finance (DeFi) startup Qiro Finance has raised $1.2 million in its pre-seed round. Alliance, an early-stage web3 accelerator, is leading the venture, with participation from Druid Ventures, Escape Velocity (EV3), Trident Digital, and CMT Digital.
A $50,000 development grant from the Aptos Foundation and a $100,000 MATIC grant from Polygon under the “Polygon’s Village Build Ideas Program” were also obtained by Qiro Finance.
The money raised will go toward Qiro Finance’s growth and development. In order to get ready for the upcoming mainnet launch later this year, the main focus will be on product development and ecosystem expansion.
Qiro Finance was founded by Akshay Poshatwar and Nishikant Bahalkar with the goal of utilizing stablecoin rails and blockchain technology to create a decentralized credit protocol that will link NBFIs in emerging markets with investors throughout the world.
A decentralized credit protocol that can support various tokenized RWA-backed credit applications is being developed by Qiro. Credit underwriters, investors, and asset originators are brought together under one framework to accomplish this.
