Altitude secures $6.1M in seed funding to make DeFi loans more efficient
Altitude, proudly announces the completion of a $6.1 million seed funding round.
Securing a round of $4 million from Tioga Capital, New Form Capital, GSR, G1, UDHC, Flow Ventures, Owl Ventures, Soft Holdings and Metavision alongside prominent angel investors, such as Marc Zeller of AAVE as well as others, the funding marks a significant milestone for Altitude.
Michiel Lescrauwaet, Managing Director at Tioga Capital, acknowledges Altitude’s potential, stating, “Crypto lending is already a cornerstone of the DeFi sector, yet its full potential is still untapped. Altitude’s novel approach is set to catalyze the next wave of growth by giving DeFi investors peace of mind while generating the best yield”
Alex Marinier, General Partner at New Form Capital, adds, “As a seed investor in Compound Finance, I had a front row seat to the rise of decentralized lending. Since then, the New Form team has been searching for products that will increase both the utilization and efficiency of these capital marketplaces. Altitude’s defi loan automation tools allow users to partake in collateralized defi lending markets with a new level of simplicity and efficiency.”
Quynh Ho, Head of Venture Investments at GSR, notes, “The crypto lending market is still manually managed and capital inefficient for users. Built by an experienced and DeFi-native team, Altitude’s active loan management solutions tackle these challenges, unlocking new possibilities for innovation in DeFi.”
This follows a $2.1M pre-seed funding from a group of over 50 strategic Web3 founders and builders including (in alphabetical order): Ahmed Al-Balaghi and Aniket Jindal (Biconomy), Ben Lakoff (Charged Particles), Ben Jones (Nuri), Benjamin Fielding and Harry Grieve (Gensyn), Danish Chaudhry (FMFW), Diego Lijtmaer (Rumi Finance), Facu (Yearn Finance), Gavin Birch, James Parillo (Figment), Georgi Spasov, Nick Todorov (LimeChain), Graham Rodford (Archax), Ivo Georgiev (Ambire Wallet), Jan-Philip Grabs, Karl-Martin Ahrend (Web3 Studios), Kristaps Vaivods (Vorto Gaming), Luka Sucic, Valentin Mihov, Captain Nemo (Daedalus Collective), Marco Cora (zkSync), Mark Borsten, Tommy Quite (Merit Circle), Matt Aaron (Uniwhales), Nick Tong (Perpetual Protocol, Daedalus Collective), Nicolas Hourcard (QuestDB), Odera Ume-Ezeoke (Limbic Labs), Philip Gasslander, Dominik Thalmann, Kubi Mensah, Fabrizio Marincola (Gattaca),Ramsey Khoury (Vega Protocol), Raphaël Mazet (SimpleFi),Rupert Barksfield (Amulet), Sarthak Jain (Binance), Tayler Ward (Barnbridge, Universe XYZ, D64), Yoann Turpin (Wintermute).
And a number of prominent angels in the Web3 space: Batuhan Dasgin, Benedikt Schulz, Dermot O’Riordan, Evgeny Gokhberg, Fabian Wetekamp, Georgi Georgiev, Kay Meyer, Lyuben Belov, Winslow Strong, Xin Wang and many others.
In addition to concluding the seed round Altitude gears up for the private beta in early 2024, this follows successful on chain tests through the past few months. To get access to the closed beta please sign up here.
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