Slope Finance Closes $8 Million Series A Funding Round Led by Solana Ventures

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Slope Finance Closes $8 Million Series A Funding Round Led by Solana Ventures
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Solana Venture and Jump Capital led an $8 million Series A investment round for Slope Finance.

As Slope Wallet prepares for a significant push to better popularise DeFi and NFT on the Solana ecosystem, this round brings together some of the industry’s most well-known investors.

Sequoia China, Genesis Trading, CMS, Spark Digital, Spartan Group, Fenbushi Capital, Mirana Ventures (Bybit’s Venture Partner), Circle Venture, Wave GP, Huobi, OKEX Blockdream Ventures, Gate, and other significant VCs and exchanges are among the participants.

Slope’s quick growth since its introduction in September 2021 has been confirmed by the closing of the Series A financing, which will fuel the company’s future growth. Slope Finance is also announcing a big product milestone in addition to the Series A announcement. Slope Wallet’s user-friendly, non-custodial mobile-first service offering had gained 1,000,000 downloads and 850,000 monthly active users across all platforms as of January 2022.

Matthew Beck, Partner at Solana Ventures says: “Since its debut in the Solana Season Hackathon, Slope has experienced impressive growth across both established and emerging markets. We are excited to support Slope’s mission to provide a seamless, cross-platform experience for users to engage with Solana’s DeFi, NFT and gaming ecosystems”.

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“Slope is building the mobile gateway for Solana ecosystem that offers a comprehensive mobile-first experience to all DeFi and NFT primitives. We are excited to support Slope in their ambition to onboard millions of mainstream crypto users,” said Saurabh Sharma, Partner at Jump Crypto.” Slope will continue to provide the best mobile wallet user experiences to the Solana user base.

The Solana user base will continue to receive the greatest mobile wallet user experiences from Slope. Crypto applications, according to Leal Cheung, the founder of Slope, should strive to achieve and exceed the UI/UX standards that customers have grown to expect from established web2 services. This will be a big motivator for lowering entrance barriers for newcomers and overall community growth.

On top of the Slope Wallet foundation, Slope will expand its efforts in 2022 to become The Gateway to Web3 by investigating new functional verticals in GameFi, SocialFi, and E-Commerce. The Solana ecosystem is the foundation of Slope’s success, and the business will continue to encourage its expansion through open access to Slope Wallet’s feature sets, a broad network of collaborations, and support and sponsorships for early-stage companies.

The Slope team is scheduled to provide additional details about ongoing projects, partnerships, and product innovations over the next several weeks, including an announcement about an intriguing new mobile application.