OpenDerade raised $ 7 million in a strategic tour led by the Capital and Mercury Fund notion, with the support of A16Z Crypto, Albionvc and CMCC Global. The latest funding brings the total transport of the company based in London to $ 11 million in just six months, a signal of investors’ confidence in the push of the startup to provide performance floors to users of unstable economies.
The company manages a “rendering-as-a-service” platform designed for applications, exchanges and fintech neobanks. Customers like Criptan in Spain and Littio in Colombia use the Openrade backend to allow users to win interest – up to 9% – on USD and EUR Holdings.
In countries like Argentina or Colombia, where dollar bank accounts are rare and offer negligible interests, OpenDe -powered applications allow users to obtain significant yields directly from their phone. In Colombia, for example, banks offer less than 0.4% APR on dollars. Littio users can get up to 6%.
OpenTrade manages $ 47 million in assets and has treated nearly $ 200 million in volume, increasing by 20% of months in months. Capital injection will help the company to evolve operations and improve its technological battery.
“OpenTrade is building basic financial infrastructure for the next generation of fintech,” said Samantha Lewis of Mercury Fund. ITXASO DEL PALACIO of CAPITAL concept added that the market capitalization of 240 billion dollars in stablecoins makes the opening infrastructure a necessary basis for the sector.
