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Solrise Finance Raises $3.4M for Non-Custodial Protocol on Solana

Solrise said the capital will be used to make the DeFi ecosystem more accessible to wider investor audiences.

Jul 6, 2021 at 1:00 p.m. UTC
Updated Sep 14, 2021 at 1:21 p.m. UTC

Solrise Finance, a fund management and investment protocol based on Solana, said it raised $3.4 million in a funding round that included Alameda Research.

  • CMS Holdings, Delphi Digital, Jump Capital, Parafi Capital, DeFi Alliance, Reciprocal Ventures and Skyvision Capital also invested.
  • Solrise says it allows users to allocate capital across actively managed funds, helping make decentralized finance (DeFi) more accessible to wider investor audiences. It says its platform helps lower transaction costs.
  • The platform also allows users to create their own funds with exposure to assets from across Solana.
  • “Unlike more traditional investment avenues, Solrise’s non-custodial nature means that fund managers never directly own investor funds, while investors are free to enter and exit funds on their own schedule,” the firm said in a press release. 
  • The Solana ecosystem is heavily backed by Sam Bankman-Fried, the CEO and founder of crypto derivatives exchange FTX and Alameda Research.

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