Zharta, a unique lending blockchain protocol, is excited to announce the closing of its seed funding round that raised $4 million to serve the next growth phase.
According to the company, this seed round was held with the assistance of the Cuatrecasas Law Firm. The Seed round was participated by prominent investors, including Greenfield One, the institutional VCs Shilling Capital, SpaceShipDao, Possible Ventures, UniwhalesDao, Clever, Olisipo Way, and other strategic Business Angels. The new funding follows Zharta’s initial acceleration round, raising $300,000 from angel investors.
The new funding will reportedly be used primarily for customer demands, R&D sales, and marketing. Notably, Zharta hopes to accelerate market penetration and expand its rollouts to improve its instance lending platform. Zharta’s co-founder and CEO, Nuno Cortesão, hopes that a strong customer-centric foundation will enable them to expand. The company plans to hire 20 new hires to the current team of 12 to implement these goals.
Commenting on the funding round, David An, Partner at Greenfield One, said:
“Zharta provides an important building block in NFT financialization. We are very pleased to be able to support Zharta as lead investor in bringing this great NFT use case to market quickly.”
Zharta has created a real-time lending model that targets DeFi and NFT native holders. The model leverages lending DeFi pools and NFT appraisals accompanied by Machine learning to fund NFTs. This includes exciting assets such as collectibles but will soon cover play to earn gaming, art markets, and the metaverse. Zharta has already gone through a testing phase that collected users’ feedback that will go a long way in helping launch a platform that meets customers’ needs and security concerns.
Pedro Rosa, from Shilling VC, commented:
“We believe the right conditions exist for accelerating protocols at the intersection of DeFi and NFTs, so we couldn’t be more excited to support the Zharta team in this investment round. A core component of the infrastructure yet to be unlocked is collateralization – that’s where Zharta comes in, with a solution that provides liquidity to collectors and the general NFT market while encouraging new parties to participate in the ecosystem.”
Notably, Zharta is working on establishing good partnerships in Web3 and envisions a future where TradFi and DeFi collaborate to safeguard the position of digital assets in the financial system. Zharta’s platform’s official launch is expected in late summer.