DeFi Lending Protocol Morpho Raises $175 Million at $2 Billion Valuation
Morpho, a DeFi lending protocol, raised $175 million in a round led by Paradigm, a16z Crypto and Ribbit Capital, in a deal that values it at roughly $2 billion. Morpho said the money will be used to build what it called an open credit network.
According to Fortune, Apollo Funds, Circle Ventures and VanEck also participated in the financing as Morpho expands from crypto-native markets toward institutional adoption. The protocol currently has $6.6 billion in total value locked and is used by Coinbase, Kraken, Anchorage Digital and Galaxy Digital.
From the sources (6 posts)
@wublockchainMorpho Raises $175M at $2B Valuation in Round Led by Paradigm, a16z Crypto and Ribbit According to Fortune, DeFi lending protocol Morpho raised $175 million in a funding round led by Paradigm, a16z Crypto and Ribbit Capital, with partici
@fintechfrankExclusive: The startup that’s dressing up crypto for Wall Street raises $175 million in a round led by a16z crypto, Paradigm, and Ribbit Capital
@theblockcoJUST IN: MORPHO RAISES $175 MILLION IN ROUND LED BY A16Z CRYPTO, PARADIGM AND RIBBIT CAPITAL
@theblockcoMorpho raises $175M in round co-led by Paradigm, a16z crypto and Ribbit Capital to build 'open credit network'
@jerallaireRT @Morpho: Morpho Association has raised $175M to build the open credit network for the world. Co-led by @paradigm, @a16zcrypto, @RibbitC…
@brian_armstrong@PaulFrambot @paradigm @a16zcrypto @RibbitCapital Congrats!