Investment Update: Nexo Ventures Backs RociFi

Nexo Ventures is constantly on the look-out for innovative blockchain technologies for potential investment. We have a particular interest in opportunities where we can combine our expertise with that of a partner to create a more powerful product solution. Our latest investment is in RociFi Labs.

On Tuesday, RociFi announced the completion of a $2.7M seed round, with Nexo Ventures taking part alongside other investors, including Arrington, Goldentree, LD Capital and Skynet Trading. RociFi is a DeFi, multi-chain network that utilizes on-chain data, machine learning, and decentralized identity data to facilitate zero- and under-collateralized loans to institutional and retail borrowers through the blockchain. RociFi’s protocol has been developed to transform Web3 lending, where users’ digital identities are central to lending decisions.

RociFi will implement a credit scoring system to determine borrowers’ trustworthiness according to their digital identity and on-chain DeFi activity. The technology will make it possible for the crypto industry to move away from traditional overcollateralized lending and toward reduced-collateral and undercollateralized loans.

The funding round will help RociFi transition its lending solution from testnet to mainnet - the next major step in its go-to-market strategy. RociFi Labs’ technology might one day make undercollateralized lending the go-to solution for the market’s DeFi lending needs.

To learn more about Nexo Ventures and to apply for funding, visit nexo.com/ventures.