Bangalore, India – June 30, 2022 (Investorideas.com Newswire) Penetration of world capital into rising market non-public debt is minimal and liquidity is non-existent. MoHash is offering entry to international capital and liquidity to debt issued by non-bank lenders utilizing DeFi as a device. Crypto already has near $150B balances in stablecoin incomes excessive threat, unsustainable and crypto correlated yields thus offering the intersection for MoHash to unlock worth because it pronounces a $6M seed funding spherical right now.
MoHash is a decentralized finance (DeFi) protocol that harnesses crypto property (specifically, stablecoins) for offering entry to international capital and liquidity for personal debt in quick rising Economies.
Based in 2021, Arun Devarajan and his early staff have run fintech companies lending to MSMEs, managing market threat for Asian debt property price $100 billion, and managing funds price $100 million. The staff additionally has deep experience in launching and scaling expertise platforms which have reached hundreds of thousands of customers, and have dealt with greater than $2 billion in TPV throughout the globe. Earlier than MoHash, the staff has labored at Goldman Sachs, Samsung, Amazon, Oliver Wyman and India Stack.
“MoHash is bringing international liquidity to non financial institution lending in excessive progress economies. We imagine it’s the correct rocket gas that’ll assist them double their economies within the coming years.”, says Arun Devarajan, founder and CEO of MoHash.
Quona Capital and Sequoia Capital India co-led the spherical, which included participation from Bounce Crypto, Hashed Ventures, Coinbase Ventures, Ledger Prime, and CoinSwitch together with Balaji Srinivasan, Sandeep Nailwal and Jaynti Kanani.
Shailesh Lakhani, MD, Sequoia India commented: “MoHash is bringing actual world property to DeFi customers globally and offering sustainable, uncorrelated, and onerous to entry yields on-chain for the primary time. We predict that that is precisely the kind of product DeFi wants – one which leverages the strengths of blockchains and helps remedy an actual world downside. We have beloved working with them over the previous few months and Sequoia Capital India is thrilled to co-lead this financing.”
Whereas Ganesh Rengaswamy, co-founder and managing companion at Quona added: “MoHash’s DeFi protocol has been constructed for environment friendly liquidity provisioning throughout rising markets at scale, which may be very thrilling to us at Quona. The answer has the potential to meaningfully bridge MSME funding gaps throughout the globe—beginning with India—and we’re delighted to be a part of this firm’s journey to do this.”
Based in 2021, MoHash is a decentralized finance (DeFi) protocol that harnesses liquidity in cryptocurrencies for personal debt in quick rising economies.
MoHash is venture-backed start-up whose buyers embrace Quona Capital, Sequoia Capital India, Bounce Crypto, Hashed Ventures, Coinbase Ventures, Ledger Prime, and CoinSwitch together with Balaji Srinivasan and Jaynti Kanani.
For extra info please go to https://www.mohash.co/
About Quona Capital
Quona Capital is a enterprise agency targeted on fintech that may develop entry for underserved clients and small companies in rising markets together with Latin America, Africa and the Center East (MENA), and South and Southeast Asia. Quona’s international companions are skilled buyers and operators in each rising and developed markets, and put money into entrepreneurs whose corporations have the potential to supply excellent monetary returns and promote breakthrough innovation in monetary inclusion for each shoppers and SMEs. Quona acquired its begin by way of a strategic relationship with Accion, a world nonprofit with a legacy in microfinance and fintech influence investing.
About Sequoia Capital India
Sequoia helps daring founders construct legendary corporations, from thought to IPO and past. Sequoia India operates in Southeast Asia and India the place we actively companion with founders from a variety of corporations, throughout classes, together with BYJUs, Carousell, Druva, Gojek, OYO Rooms, Tokopedia, Truecaller, Zomato and extra.
We spur founders to push the boundaries of what is attainable. In partnering with Sequoia, startups profit from 50 years of tribal information and classes discovered working with corporations like Airbnb, Alibaba, Apple, Dropbox, Google, LinkedIn and Stripe early on.
From the start, universities, endowments and different non-profits have been the spine of our investor base, which suggests founders’ accomplishments make a significant distinction. For extra info on Sequoia’s work in India and SE Asia, go to https://www.sequoiacap.com/india/
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