Other Deals
Blockchain-based lending platform Sublime raises $2.5 M
Sublime Finance, a blockchain-based platform that helps borrowers tap into their "social capital", has raised USD 2.5 million in a seed round co-led by Galaxy Digital and Electric Capital. Other investors included FinTech Collective, Collab+Currency, and angel investors including Jill Carlson Gunter and Ryan Selkis. The funding was secured via a Simple Agreement for Future Tokens (SAFT) sale. Sublime will use the funds to develop its platform and launch it in the coming weeks. Instead of a typical credit check, Sublime will let users leverage their digital identities to get undercollateralized loans. Each loan request will act as an independent pool on Sublime, meaning borrowers will be able to create customizable loan requests that lenders can fulfill. Lenders can assess borrowers by looking up their digital identities, past loan performance, and other users they have interacted with online.
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