DeFi protocol Goldfinch has received a $25 million investment in the round led by Andreessen Horowitz (a16z).
DeFi loan protocol Goldfinch received a $25 million investment in the extension round of the Series A round, where the protocol raised $11 million last June. Other investors in the round included renowned hedge fund manager Bill Ackman, crypto investment firm BlockTower, and investment management firm Kingsway Capital.
Goldfinch is an open marketplace for unsecured loans. Investors can deposit cryptocurrencies into the Goldfinch pool to earn returns. When lenders pay interest on the protocol, the money is paid out to all participating investors.
Goldfinch managed to increase its loan volume from $250,000 a year ago to over $38 million. The protocol serves more than 200,000 users in 18 countries. The protocol’s capital is used for a wide variety of businesses, including motorcycle taxis in Kenya and small businesses in Brazil.