Press Release: Range Protocol raised 3.75M in a seed funding round, with funds to be allocated to further develop its all-in-one on-chain asset management platform.
September 12, 2023, Singapore — Range Protocol is excited to announce the successful closing of a $3.75M seed funding round, co-led by HashKey Capital and Nomad Capital and with participation from Spark Digital Capital, Mirana Ventures, Symbolic Capital, Asymm Ventures, and Comma3 Ventures.
Funds Allocation
The funds raised will be used to continue building out Range’s all-in-one on-chain asset management platform and to further scale the team and community. This major milestone comes in anticipation of several key partnerships, and the launch of new verticals across the DeFi ecosystem.
A spokesperson from HashKey Capital stated:
“Range understands that democratization is a core component of decentralized finance and that this wouldn’t be complete without equal opportunities for trading strategies. As the new financial system continues to grow in the coming years, we believe that Range is well-positioned as the upstream of this value and will help drive systematic trading strategies forward for all.”
Range Protocol: A Complete DeFi Asset Management Platform
Range Protocol believes that DeFi will undergo the same transition seen in traditional finance, specifically, a wide-scale shift towards public access to advanced trading strategies that were previously reserved for a select few.
As DeFi continues to mature, Range Protocol will level the playing field between retail investors and professional digital-asset managers by acting as a full DeFi Asset Management platform. The company offers an on-chain trading infrastructure so that the average DeFi user can get easy access to professional automated trading strategies to enhance their yield.
This includes trading strategies for liquidity provision, derivatives, NFT Finance, and liquid staking derivatives. These are all multi-billion sectors despite being in their early stages and lacking systematic trading strategies for the average user.
Ricky Li, GP of Nomad Capital stated:
“We need a professional investment infrastructure platform that can help crypto investors manage their assets in a trustless and professional way. Unlike the traditional finance vintage products like Fidelity and BlackRock, Range is combining the best of both worlds, sophisticated strategies and non-custodian execution.”
The Path Forward
This investment marks a significant step forward in Range’s goal of becoming an all-in-one on-chain asset management platform. The team at Range Protocol is incredibly grateful to HashKey Capital, Nomad Capital, and the other investors for their support, and are excited to continue the journey to build out the future of on-chain yield.
Those interested in learning more can visit the official Range Protocol website here.
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Media Contact Details
Contact Name: Veronica Garcia
Contact Email: veronica@rangeprotocol.com
Range Protocol is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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