With this $50 million fundraising led by the investment fund Ribbit Capital, Morpho is about to take another step forward. The decentralized lending platform had recently evolved into Morpho Blue, an infrastructure allowing its users to create lending applications with personalized risk management strategies.
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Ribbit Capital, Coinbase and Andreessen Horowitz Invest in Morpho
On the occasion of a new round table, Morpho Labs announced on August 1st having obtained $50 million in fundingThe fundraising of the French startup behind the decentralized lending and borrowing protocol Morpho was led by Ribbit Capital, an investment fund specializing in fintech whose portfolio is made up of big names in the sector such as Revolut, Coinbase, Uniswap and Robinhood.
This new fundraising, which comes almost 2 years after the previous one, which amounted to 18 million dollars.was carried out through a private token sale.
We're excited to announce that Morpho has secured $50M, led by Ribbit Capital!
The funding from Ribbit and other strategic partners further enhances Morpho's decentralization and supports its mission to make financial infrastructure a public good. pic.twitter.com/9coxxRKKwn
— Morpho Labs 🦋 (@MorphoLabs) August 1, 2024
Following this first capital injection, other investors have chosen to support Morpho Labs and its decentralized lending protocol.. Thus, Coinbase Ventures, the branch of the cryptocurrency exchange platform Coinbase dedicated to investment, Kraken Ventures, and Andreessen Horowitz (a16z), a fund known for its massive capital contributions to the blockchain and decentralized finance (DeFi) ecosystem, participated in the round table alongside around forty investors.
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Founded in 2021 by Paul Frambot and Vincent Danos when they were students, Morpho Labs quickly became known in the crypto ecosystem thanks to the first version of its protocol: Morpho Optimizeran optimization layer to improve interest rates for users of platforms like Compound or Aave.
In 2022, the startup completed its first round of funding, breaking the record for the largest student fundraising, previously held by Facebook. For the start-up, this is a golden opportunity to bring a new layer of customization and flexibility to decentralized loans. That's why it has embarked on the design of a new product: Morpho Blue.
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With its new protocol, Morpho Labs is ready to revolutionize the DeFi sector
Morpho Blue introduced a new approach to decentralized lending using isolated, autonomous and intervention-free vaults. Morpho has gradually evolved into this independent financial infrastructure. inspired by layered protocols […], which promotes innovation, resilience and value creation “.
Officially launched on Ethereum late last year, this transition to this Morpho Blue-based infrastructure has been well received by users, the $1.7 billion mark in total deposits having been exceeded.
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Additionally, on June 19, Morpho Blue became the first protocol to launch on Base. Again, this arrival was well received with $120 million in deposits recorded in the month following its launch.
However, Morpho Labs does not intend to stop there. Thanks to its new fundraising, the young company says that ” able to expand its already thriving ecosystem, provide grants to more active contributors and ultimately become the most trusted infrastructure for any DeFi, institutional or fintech lending application “.
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Source : Morpho Labs
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Surprised by the rise of crypto-assets in the late 2010s, I started to closely follow this sector that fascinates me to the highest degree. When I am not in football stadiums, rugby or handball halls, I work on writing relevant articles about cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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