RociFi Raises $2.7M in Seed Funding.
- RociFi is a Pittsburgh, Pennsylvania-based decentralized zero and uncollateralized lending protocol that has raised $2.7M in seed funding.
- Backers participating in the Round to be completed in November 2021, including Arrington, Goldentree, Nexo, LD Capital and Skynet Trading
- The company is planning to utilize these funds to increase the size of the team, introduce products to the market, expand the size of the engineering team, and start the process.
- The company has created an algorithm that uses the on-chain database, machine learning and the decentralized data on identity to aid in under-collateralized loans through the blockchain.
- This company is currently testing its testnet and plans to make a gradual and full-scale introduction to the mainnet by the end of quarter two of the year. The company will run as an autonomous, decentralized entity.
Also Read: EARTHBANC RECEIVES $1.5M in PRE-SEED ROUND
Also Read: KARMACHECK RAISES $15M SERIES A FUNDING