With Compound, users can borrow for their crypto assets. In the near future, a new investment will be made to help a new company called Compound make the platform more accessible to ordinary people. Andreessen Horowitz has just announced a $ 25 million fund for this decentralized financing protocol, with other investors including Paradigm and Bain Capital Ventures.
The start-up is based in San Francisco and is currently working with key accounts to provide automated crypto lending through its platform.
One of the objectives of this funding is to adapt this platform to work with Crypto exchanges, some wallets and custodians to reach a broader market, including retail investors seeking access to their services. They assume that the integration into the other crypto platforms will take place at the end of next year. “Compound is a loan protocol that is open to anyone in the world, unbalancing banks and allowing anyone to earn interest on their money. […] We have worked with Robert and his team for more than two years and believe that they are world class technologists and entrepreneurs, “said Chris Dixon, General Partner of Andreessen Horowitz.
Currently, the company already has assets totaling $ 150 million. However, with this $ 25 million capital injection, they can make targeted investments to make the service more accessible, not just to corporate customers, but to ordinary people as well. This is not the first step that Andreessen Horowitz has taken to the crypt world as he announced a $ 5 million investment earlier this month for Arweave, a company focused on permanent decentralized data storage.