Masa Finance raises USD 3.5 mln in Pre-Seed round

Thursday 5 May 2022 12:55 CET | News

Masa Finance, a US-based hybrid credit protocol, has completed a Pre-Seed funding round of USD 3.5 million.

The funding was led by Unshackled Ventures, executives from GoldenTree Asset Management, Flori Ventures, GSR, Decentranet, Intersect VC, Lateral Capital, Peer VC, Alves Ventures, and several angel investors in the fintech/blockchain space including Louis Beryl (founder of Earnest), Gustavo Menezes (24hr of Le Mans Driver for Peugeot Sport), and Jacob Riglin.

Masa has developed infrastructure for Web3 that enables on-chain credit scoring for billions of people globally. By aggregating off-chain and on-chain data into a non-fungible credit report, Masa gives lenders and developers access to the tools needed to evaluate borrower risk and launch lending products for individuals and businesses globally.

Masa aggregates over 10,000 sources of off-chain data from 78 countries through integrations with credit bureaus, bank data aggregators, and alternative data through its partner Pngme. Additionally, Masa has global coverage for on-chain data through 26 integrations to exchanges and wallets — opening up a market of 4.95 billion people through its decentralized credit infrastructure.

Through Masa, individuals and businesses can link, manage, and track off-chain and on-chain data to leverage their complete financial profile as a hybrid credit score – enabling access to credit through fully on-chain services. Liquidity providers can fund lending pools in rated tranches, allowing them to gain returns that outperform traditional markets.

Masa is building on Celo and Ethereum, has 36,000 people signed up to the platform, and 2,100+ node operators on its live testnet that supports zero-knowledge private transactions and smart contracts. The first credit products launching on the protocol include a credit builder loan, uncollateralised loans, and an SME line of credit through its app. 

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Keywords: funding, product launch, Web 3.0, data, DeFi
Categories: Banking & Fintech
Companies: Masa Finance
Countries: United States
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Banking & Fintech

Masa Finance

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