Qiro Finance Raises $1.2 Million Pre-Seed Funding, Bridging Credit Gap in Southeast Asia

Bittime - Qiro Finance, a Singapore-based DeFi credit services company$1.2 million Pre-Seed funding round. This achievement marks a significant step forward for the company's mission to address the substantial credit gap in Southeast Asia.

Alliance Leads Qiro Finance Investment

This Pre-Seed round was led by Alliance, a leading early-stage web3 accelerator. Apart from Alliance, several other well-known investors also participated in this round, including Druid Ventures, Escape Velocity (EV3), Trident Digital, and CMT Digital.

Although the exact valuation of Qiro Finance has not been disclosed, this funding shows strong investor confidence in the company's potential.

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Leveraging DeFi and Blockchain

Qiro Finance plans to use blockchain technology and a stablecoin framework to bridge the credit gap in Southeast Asia. This approach aims to provide a more accessible and inclusive financial system for individuals and businesses in the region.

Additional Support

In addition to Pre-Seed funding, Qiro Finance has secured additional resources to drive its development. The company received a 100,000 MATIC grant from Polygon, a leading blockchain scaling platform. 

Additionally, the Aptos Foundation provided a $50,000 development grant to Qiro Finance. This grant offers valuable support to Qiro Finance as it builds its DeFi credit services platform.

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Conclusion

With a successful funding round and additional grants, Qiro Finance is well positioned to make a significant impact in Southeast Asia. By leveraging DeFi and blockchain technology, the company has the potential to provide much-needed financial services in regions with large credit gaps. 

The next few months will be crucial for Qiro Finance to translate its plans into a functioning platform and work towards bridging the financial gap in Southeast Asia.

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.