Solrise Finance, a decentralized fund management and investment protocol on Solana has announced the successful completion of its funding round, which raised $3.4 million.
According to the protocol, the funding round saw the participation of various top venture capital funds, including Alameda Research, Jump Capital, CMS Holdings, DeFi Alliance, Reciprocal Ventures, Delphi Digital, and Parafi, DeFi Alliance, Reciprocal Ventures, and Skyvision Capital.
Commenting on the funding round, Solrise CEO Vi dor Gencel explained:
“We are beyond excited to be working with the most amazing partners and investors we could have thought of. We are completely dedicated to making Solrise a long-term success and are happy to have such strong support.”
Notably, these new funds will help the protocol continue eliminating existing barriers within the decentralized finance market, allowing more users to access the market. Some of the obstacles the protocol is looking at eliminating include the high cost of transactions and drawbacks of a centralized finance platform. Using the platform, any users can create, enter and exit funds all for under $0.01.
Parafi Capital General Partner Santiago R Santos adds:
“The Solrise team are exceptional builders who also created Solfare and Solana Beach. We’re excited to make this our first (and definitely not our last) DeFi investment in Solana. We’re encouraged by the new possibilities in Solana for DeFi applications and see Solrise as the primary access point for investors and capital in the ecosystem.”
Solrise is an easy-to-use, practical, and almost trustless platform. All users need to choose a fund to invest in or create their own – with just a few clicks. In addition, the platform allows fund managers from all across the globe – whether they be well-established and looking for a new channel or ambitious rookies with something to prove – to open a fund, with performance kept utterly transparent.
In addition, the Solrise Finance platform was created to allow DeFi users to allocate capital across a wide range of actively managed funds cost-effectively. The platform also allows these users to access automated investment pools that enable them to access more opportunities in the market. Users get exposure to assets from across Solana without sacrificing security and time.