Other Private Equity/Strategic Investments
NFT lending marketplace Strip Finance raises funding from MEXC Exchange, Others
Hyderabad-based Strip Finance has raised INR 11 crore from Old Fashion Research, Nothing Research, Tenzor Capital, Exnetwork Capital, Valhalla Capital, Block0, Shima Capital, Lancer Capital, MEXC Global Exchange, Kryptos Research, The Newfield Fund, ZBS Capital, J10M Capital. The round also saw participation from angel investors including Solana's Tamar Menteshashvili, Ankr's Ryan Fang and Marco Robustelli, and Persistence's Tushar Aggarwal, PVPL's Aditya Nagarsheth, and Frontier's Palash Jain. Strip Finance will use the funds for product development, user acquisition and expansion into other growth avenues. NFTs are unique files on a blockchain whose ownership is traceable on the Ethereum blockchain. Strip Finance allows NFT collectors to get stablecoins without selling off their NFTs. For the lenders, it allows them to earn interest on the platform and have a chance to acquire defaulted NFTs at discount prices.
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