TechFlow, Dec. 9 — According to Fortune, Bitcoin lending platform Lava has raised $10 million in a Series A round led by Khosla Ventures and Founders Fund. The platform allows users to borrow U.S. dollars using Bitcoin as collateral and employs a "self-custody" model to ensure users retain full control over their assets. It currently charges an interest rate of approximately 7.5% plus account setup fees.
Keith Rabois, managing partner at Khosla Ventures, said Lava’s secure self-custody technology represents a significant breakthrough. This marks Khosla Ventures’ second major move in the crypto space following its $100 million investment in Worldcoin in 2022. Lava CEO Maredia revealed that the company plans to expand into payment services and Bitcoin purchasing, and has no plans to issue a token.
