DeFi Protocol Element Finance Raises $32M in Series A Round

Posted on by American Coins & Gold

DeFi Protocol Element Finance Raises M in Series A Round
Element Finance, a decentralized finance (DeFi) fixed rate protocol, closed a $32 million Series A funding round at a $320 million valuation, the DeFi project announced on Tuesday.Polychain Capital led the round. Previous investors Andreessen Horowitz (a16z), Placeholder, A.Capital Ventures and Scalar Capital participated in the round, which also included new investors Republic, Advanced Blockchain, P2P Validator, Rarestone Capital and Ethereal Ventures.Element, which provides a yield-maximizing marketplace for crypto interest rates, will use the funds to expand its workforce, especially in the areas of engineering, research, user interface (UI) and design, the company said.“Fixed rates are a stepping stone for…