In order to fund the development of its real-world asset protocol, Helix raised $2 million in pre-seed capital. Emurgo Ventures, Comma3 Ventures, Outlier Ventures, Emoote, and other investors joined Saison Capital and Superscrypt in leading the round.
Helicap Incubator Helix Raises $2 Million in Pre-Seed Round to Make Private Credit Yields Available to Crypto Investors
On its platform, credit opportunities from a variety of industries are paired with proprietary credit evaluation technologies. An announcement made today claims that the project seeks to make blockchain-based financing possible for companies all around Southeast Asia.
There is a demand to get sustainable yields within the crypto ecosystem. The idea was: how do we remove friction and bring them the product right within their native ecosystem? Helix will target crypto businesses sitting on stablecoin liquidity.
Jitendra Singh Jaitawat, co-founder and CEO of Helix
According to Jaitawat, the company’s pre-seed funding will be utilized to cover launch preparations as well as the hiring of more business development and engineering personnel.
Birth of the Helix
Helicap, a private lending platform that started operating at the beginning of 2018 and has since disbursed more than $200 million in loans throughout Southeast Asia, incubated Helix. In the fourth quarter of this year, Ethereum is scheduled to host the introduction of the Helix protocol, which might then spread to other chains.
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