Qiro Finance Secures $1.2M Pre-Funding to Bridge Credit Gap in Emerging Markets

Funding Alert

Qiro Finance, a pioneering decentralized finance (DeFi) company founded by Akshay Poshatwar and Nishikant Bahalkar, has successfully raised $1.2 million in a pre-funding round aimed at revolutionizing access to credit in emerging markets. The Singapore-based company aims to address the significant credit gap prevalent in regions such as Southeast Asia by leveraging blockchain technology and stablecoin frameworks.

«We are excited about the huge potential to transform the private lending landscape,» commented Akshay Poshatwar, CEO and Co-Founder of Qiro Finance. «Our mission is to empower fintech asset creators in Southeast Asia and beyond and foster a more transparent and efficient credit ecosystem.»

The Qiro Finance initiative comes amid a significant imbalance in global private lending, with the APAC region accounting for just 21% compared to a dominant 67% in the US. This difference underlines the urgent need for alternative financing solutions adapted to the dynamics of emerging markets.

The funding round was led by Alliance, a prominent web3 accelerator, along with contributions from notable investors including Druid Ventures, Escape Velocity (EV3), Trident Digital and CMT Digital. The support highlights growing investor interest in decentralized lending protocols and real asset tokenization (RWA).

«Real World Assets (RWA) are gaining momentum as traditional firms explore new avenues in crypto-financing,» noted Imran Khan, Alliance founder. «Qiro Finance is well positioned to facilitate global access to private credit through innovative RWA-backed solutions.»

Qiro Finance plans to use the funds to further develop its decentralized lending protocol, enhancing the capabilities of RWA-backed tokenized lending applications. «Our goal is to create a robust credit data infrastructure that addresses issues such as adverse selection and loan defaults in chain transactions,» explained Nishikant Bahalkar, CPO and Co-Founder of Qiro Finance.

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Chris Pizzo, co-founder and general partner of Druid Ventures, expressed optimism about Qiro’s potential impact: «Qiro has the opportunity to set the standard for credit data infrastructure, offering scalability and rigorous risk management.»

In addition to the funding, Qiro Finance secured a 100,000 MATIC grant from Polygon and a $50,000 development grant from the Aptos Foundation, underscoring the support of leading blockchain ecosystems.

Going forward, Qiro Finance plans to expand its ecosystem and prepare to launch the mainnet later this year. “We envision a future where DeFi and blockchain enable universal access to credit,” affirmed Akshay Poshatwar. «Our journey begins by empowering fintech innovators in Southeast Asia with ambitions to expand our influence in various emerging markets.»

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