Solrise Finance Raises $3.4 Million For Solana-Based Non-Custodial Asset Management Protocol

[PRESS RELEASE – Tortola, BVI, 6th July 2021]

Solrise Finance, a DeFi protocol designed to support managed portfolios of native and synthetic funds on the scalable, low-latency Solana platform, has successfully concluded a $3.4 million funding round.
The capital raise was led by a consortium of top venture capital funds within the decentralized finance space, including Alameda Research, CMS Holdings, Delphi Digital, Jump Capital, Parafi Capital, DeFi Alliance, Reciprocal Ventures, and Skyvision Capital.

Per Solrise CEO Vi dor Gencel, “We are beyond excited to be working with the most amazing partners and investors we could have thought of. We are completely dedicated to making Solrise a long-term success, and are happy to have such strong support.”

With this newly injected capital, Solrise is working to make the DeFi ecosystem more accessible to wider investor audiences by overcoming many of the existing barriers to participation like high transaction costs and drawbacks of centralized finance platforms, like custody and opaque decisions to limit trading in certain assets.

The permissionless and transparent platform Solrise aims to help DeFi users cost-effectively allocate capital across a range of actively managed funds and passively automated investment pools to open up more opportunities in a bigger cross-section of assets. 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.

Anyone can use the Solrise platform to create or manage a fund within the protocol or invest in said funds. Besides these ease of use and accessibility features, platform users, including fund managers, creators, and investors, can gain exposure to Solana native and off-chain assets and protocols, helping broaden the ecosystem’s reach.

Remarking on the fund’s investment, Parafi Capital General Partner Santiago R Santos adds, “The Solrise team are exceptional builders who also created Solfare and Solana Beach. We’re excited to make this our first (and definitely not our last) DeFi investment in Solana. We’re encouraged by the new possibilities in Solana for DeFi applications and see Solrise as the primary access point for investors and capital in the ecosystem.”

About Solrise

In response to the hurdles posed by high DeFi transaction costs and opaque moves by centralized platforms like Robinhood, Solrise is taking DeFi in a new direction with its intuitive, user-friendly protocol. By leveraging Solana’s high speed, low-cost, and low friction blockchain technology, Solrise aspires to help investors with limited experience and small sums participate in DeFi. This protocol features decentralized non-custodial asset management services that invite anyone to create, manage, and invest in portfolios of native and synthetic assets. With a focus on transparency, speed, and security, Solrise embraces the best DeFi and CeFi features to incentivize participation from all manner of DeFi participants.