We’re excited to announce some great partners & investors to help us build our vision of simple and powerful financial services for everyone. With this seed round we will accelerate onboarding of talent into DeFi and gro our products.
The round is led by Galaxy Digital and Framework Ventures, with participation from Variant, Northzone, Nascent, a_capital and 3AC. Several insightful builders are also joining the round, including founders of DeFi protocols Aave, Compound and Synthetix.
With interest rates at record lows and people sometimes even having to pay banks to take their deposits, there is a huge demand for returns. Many have turned to cryptocurrencies to speculate on price increases — but a new movement offers compelling returns without the volatility that cryptocurrencies are known for. Decentralised Finance (DeFi) lets people use digitized pounds and dollars to profit from emerging financial services, without betting on the price of bitcoin.
DeFi is reinventing traditional financial services like lending, trading and insurance as open and transparent protocols. Protocols allow for faster innovation and permissionless integration which drive efficiencies that ultimately deliver more value to people. But DeFi still requires technical expertise and has become exclusionary as a result — Gro is building products for people to have simple and friendly access to DeFi.
Our mission is to empower people to easily create and share wealth, by combining the best of decentralized and legacy finance. Our products will deliver value propositions only seen in DeFi with user experiences from finance & consumer tech.
The first product is a protocol that will enable access to optimised stablecoin yield and increased protection. Over the coming weeks we are unveiling more details and will gradually open up the protocol to users.