Sequoia Capital India and Quona jointly led a seed fundraising round to raise US $6 million for MoHash, Indian decentralized finance (DeFi) technology.
By utilizing DeFi to access global finance and liquidity for alternative assets in emerging economies, MoHash, a company founded in 2021, intends to assist investors in gaining returns more securely. The business manages funds worth $100 million and market risk for Asian debt assets worth $100 billion, in addition to lending to MSMEs.
“MoHash is bringing global liquidity to non-bank lending in high-growth economies,” MoHash founder and CEO Arun Devarajan said. “We believe it’s the right rocket fuel that’ll help them double their economies in the coming years.”
The MoHash team has previous employment history with Oliver Wyman, India Stack, Goldman Sachs, Samsung, and Amazon.
The most recent investment highlights the growing desire for safer returns in DeFi following a sell-off in TerraUSD (UST), which led to the cryptocurrency equivalent of Lehman Brothers’ failure in 2008, which had wide-ranging financial ramifications.
