Saros Secures $3.75 Million in Private Funding Round
Solana-based decentralized finance (DeFi) firm Saros has attracted potential investors and raised $3.75 million in a private funding round. Just two weeks after announcing the launch of its super app, the company revealed that it had received backing from Solana ventures and other major investors. Participants in the private fundraising activity included Spartan, GBV, Hashed, Arche Fund, Assym, Genblock, IF, K300, Kyros, Evernew, and Cryptomind.
The funds raised will be used to develop the Saros Super App, a non-custodial web3 application that serves as a one-stop platform for global payments, transactions, and the transfer of digital assets. Additionally, the funding will support the application’s expansion strategies, with a scheduled launch in the first quarter of 2024.
In a blog post, Saros expressed its excitement about the successful funding round and the upcoming launch of new products. The company aims to accelerate growth, foster innovation, and create a more inclusive and accessible financial ecosystem. With the support of its investors, Saros is committed to reshaping the decentralized finance landscape and revolutionizing how users interact with digital assets.
Looking ahead, Saros plans to introduce SarosID, a privacy-preserving digital solution that will facilitate the adoption of its Super App services. This decentralized ID system will provide seamless access and enhance user engagement with the Saros Super Application.
Tags: funding