Oasis.app, a platform that allows DeFi users to borrow and triple their exposure to cryptocurrencies while also earning on their assets, has received $6 million in funding from Libertus Capital in a Series A funding round. The investment round also included contributions from other investors such as Road Capital and high-profile angel investors in the DeFi area. The $6 million in cash and cryptocurrency was received.
This funding comes after the project received a $5 million seed round from UDHC Finance in June 2021, when Oasis was removed from the Maker Foundation as part of its dissolution.
The Oasis.app team plans to use the new investment to grow their product offering, hire more people, and improve their brand identification.
Libertus said, “We’re excited to partner with the Oasis team as they continue to build out products and tools that enable DeFi users to seamlessly and safely deploy their capital. The Oasis team has so far built the no. 1 DeFi app to interact with the Maker Protocol. With this funding, we look forward to them bringing their world class smart contract and security expertise into the broader DeFi ecosystem”.
Chris Bradbury, Oasis.app CEO added: “It’s been an incredible journey so far. We’re proving our vision of becoming the most trusted place in DeFi to deploy and manage capital. This latest funding allows Oasis.app to scale the features our community will be looking for next. As a team we are humbled to be working with such incredible investors who are already taking us forward with their experience of this space.
This is a big time for DeFi as users are not only seeing the potential but finding the tech to access it. It’s still early days for DeFi and we are excited to be driving the next phase of adoption.”