{"id":44527,"date":"2021-06-17T15:27:17","date_gmt":"2021-06-17T12:27:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44527"},"modified":"2025-08-31T17:20:50","modified_gmt":"2025-08-31T14:20:50","slug":"a16z-leads-11m-series-a-for-goldfinch-lending-protocol","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/a16z-leads-11m-series-a-for-goldfinch-lending-protocol\/","title":{"rendered":"a16z leads $11m Series A for Goldfinch lending protocol"},"content":{"rendered":"<p>The DeFi protocol Goldfinch, which provides unsecured crypto loans, closed an $11 million Series A round led by Andreessen Horowitz (a16z).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\/0 We\u2019re thrilled to announce 1.) We have raised $11M led by <a href=\"https:\/\/twitter.com\/a16z?ref_src=twsrc%5Etfw\">@a16z<\/a> crypto, 2.) We\u2019re announcing our Backer Program, and 3.) We can now point to the whitepaper that serves as the basis for the protocol. Thread \ud83d\udc47 <a href=\"https:\/\/t.co\/u9ms8BUMG4\">https:\/\/t.co\/u9ms8BUMG4<\/a><\/p>\n<p>\u2014 Goldfinch (@goldfinch_fi) <a href=\"https:\/\/twitter.com\/goldfinch_fi\/status\/1405183544561790984?ref_src=twsrc%5Etfw\">June 16, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The round also included Mercy Corps Ventures, A Capital, Access Ventures and Divergence Ventures.<\/p>\n<p>The San Francisco\u2013based startup will deploy the funding to build a network of borrowers and lenders. Talks are underway with marketers and underwriting specialists to broaden its regional footprint.<\/p>\n<p>The Goldfinch protocol <a href=\"https:\/\/goldfinch.finance\/goldfinch-whitepaper.pdf\">relies<\/a> on the concept of \u201ctrust through consensus\u201d. It involves assessing borrowers&#8217; creditworthiness based on the views of other participants. The value of the crypto assets held is not included in its calculation.<\/p>\n<p>Going forward, the resulting metric is used to automatically allocate the capital provided by lenders, enabling them to earn passive income.<\/p>\n<p>The project&#8217;s lender community consists of experts in traditional financial services, funds and crypto enthusiasts.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"612\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-478.png\" alt=\"A16z leads $11m investment round for Goldfinch lending protocol\" class=\"wp-image-139325\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-478.png 700w, https:\/\/u1f987.com\/wp-content\/uploads\/1-478-300x262.png 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><figcaption>Data: Goldfinch.<\/figcaption><\/figure>\n<\/div>\n<p>The team has submitted the protocol code for audit and pledged to increase the project&#8217;s decentralisation.<\/p>\n<p>The project&#8217;s founders, former Coinbase employees Mike Sall and Blake West, set out to democratise crypto lending.<\/p>\n<p>Goldfinch targets individuals and corporate entities in developing countries that may not meet collateral requirements for loans. According to the <span data-descr=\"International Finance Corporation\" class=\"old_tooltip\">IFC<\/span>, in such countries about 40% of micro-, small and medium-sized businesses lack funds for growth. Many are not bank clients.<\/p>\n<p>West&#8217;s estimates put the year-to-date Goldfinch loan portfolio up 2.5x, with thousands of entrepreneurs across India, Indonesia, Mexico, Nigeria, Thailand, Singapore and Vietnam taking out loans.<\/p>\n<p>In June, DeFi project Unbound Finance <a href=\"https:\/\/u1f987.com\/en\/news\/pantera-capital-and-arrington-xrp-capital-back-defi-project-unbound-in-5-8-million-round\">attracted<\/a> $5.8 million.<\/p>\n<p>In May, ForkLog reported plans for a16z to launch the third crypto fund with assets <a href=\"https:\/\/u1f987.com\/en\/news\/opinion-andreessen-horowitzs-third-crypto-fund-to-hold-2-billion-in-assets\">worth $2 billion<\/a>.<\/p>\n<p> Follow ForkLog updates on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The DeFi protocol Goldfinch, which provides unsecured crypto loans, closed an $11 million Series A round led by Andreessen Horowitz (a16z).<\/p>\n","protected":false},"author":1,"featured_media":44528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[848,1093,1097],"class_list":["post-44527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-andreessen-horowitz","tag-defi","tag-lending"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44527"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44527\/revisions"}],"predecessor-version":[{"id":44529,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44527\/revisions\/44529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44528"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}