Folks Finance 👀

DeFi platform Folks Finance raises $3.2 million Series A at $75 million valuation

Folks Finance, a cross-chain decentralized finance (DeFi) platform, has raised $3.2 million in a Series A round, bringing its valuation to $75 million.

Borderless Capital led the round, with participation from Algorand Ventures, Mapleblock Capital, Sovo Ventures and others, Folks Finance said Thursday. Although $3.2 million is a relatively small Series A, the round was described as "oversubscribed." Folks Finance co-founder and CEO Benedetto Biondi told The Block that the platform initially aimed to raise $2 million at a $50 million valuation, but ultimately exceeded this target due to investor interest.

https://www.theblock.co/post/326508/defi-folks-finance-funding-valuation