TechFlow news, November 14 — According to The Block, cross-chain DeFi platform Folks Finance has raised $3.2 million in a Series A funding round at a $75 million valuation. The round was led by Borderless Capital, with participation from Algorand Ventures, Mapleblock Capital, and Sovo Ventures.
Benedetto Biondi, co-founder and CEO of Folks Finance, revealed that the company initially aimed to raise $2 million at a $50 million valuation but received strong investor interest, resulting in an oversubscribed round. Of the total, $2 million was secured in February this year, and the remaining $1.2 million was recently completed. To date, Folks Finance has raised a total of $6.2 million, including prior seed funding from institutions such as Coinbase Ventures, Jump Crypto, OKX Ventures, and ParaFi Capital.
