Recently, Revv co-founder and CEO Adi Dommaraju announced on his Twitter account that they had taken Revv public and raised $5.5 million in seed funding to develop marketplace infrastructure on DeFi. Despite the recent intense turbulence in the industry, they have grown more convinced than ever that DeFi is the clear way forward as a result of these events.
About Revv’s Seed Raising
The funding round, which was led by Libertus Capital and included several well-known angel investors from the crypto and TradFi, was completed in Q2 of this year. Other participants included Castle Island Ventures, Tribe Capital, DACM, C2 Ventures, Palm Drive Capital, Figment Capital, and GFC.
On the other hand, DeFi makes financial access, transparency, and composability incredibly possible. However, to reach its full potential, it must advance in terms of financial sophistication and UI/UX. To build new DeFi products that are economically viable, first-order correct, and simple to understand, Revv wants to combine the best principles of TradFi and web2 with crypto-native expertise.
Blockchains and cryptographic verification, according to Revv, are fundamental technological foundations that will forever change international trade and financial systems. Their goal is to create a decentralized infrastructure that will support the development of the next generation of effective, open, and robust international financial markets.