ReSource Finance announced it raised $1.7 million to offer undercollateralized credit to Web 3 businesses.
According to the decentralized protocol for mutual credit networks, ReSource Finance, it has raised $1.7 million in funding round. In a press release, the ReSource Finance team said that the fund would be used to improve decentralized credit access to Web 3 companies.
The funding was led by Future Perfect Ventures, NGC Ventures, and ExNetwork. In addition, the financing round also involves many investors in the crypto and blockchain industry. Notably, Davoa Capital, BlackRock (NYSE:BLK) Capital, Moonwhale Ventures, Follow the Seed, Floem Capital to name a few.
In a statement, ReSource Finance stressed that it will use the fund to boost customer acquisition on the Resource Finance dApp and enhance decentralized lines of credit to small-scale ventures.
Speaking of the funding, the founder and managing partner at Future Perfect Ventu…
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Source: Cryptocurrency - investing.com
