Apricot Completes $800,000 Seed Round
Aiming to become the go-to platform for Decentralized Finance (DeFi) solutions, Apricot Finance is delighted to know that it is well on that path as reflected by the immense support received in its seed round investments. Apricot Finance has raised $800,000 in its seed funding round. With the successful seed round coming to a close, Apricot looks forward to moving on to the next stage of the project.
Apricot finance is a DeFi solution built on the Solana network. Its first launch “Apricot lend” is a collateralized lending protocol, which allows a borrower-friendly ecosystem that does not go against the lenders’ protection.
The seed round funding has received great interest from various investors. Our investors include Chris McCann (who is an early seed investor in Solana and FTX), Genblock Capital, NGC Ventures, DFG, CMS Holdings, CryptoJ Capital, Coinsights Ventures, Double Peak Group, LD Capital and many others. Following this round, Apricot Finance will be able to continue with votes of confidence, and offer a potentially sustainable solution for bad debt accumulation on lending platforms.
“Borrow & lending is a critical infrastructure layer of the DeFi ecosystem, and especially true within the new emerging ecosystem of DeFi projects being built on Solana. The team has very ambitious plans to improve upon the existing borrow & lending protocols through utilizing Solana’s unique feature of speed, throughput, and low-cost transactions. I’m looking forward to both using Apricot and seeing the other Solana projects that will be integrating Apricot into their own products.” — Chris McCann, an early seed investor in Solana, FTX, and backer of Apricot Finance.
“We are very excited for the growth of DeFi primitives on Solana — we think Apricot is in a great position to take advantage of this emerging ecosystem through their lending protocol.” — CMS Holding
“Genblock is excited to announce a strategic investment within Apricot Finance. Leveraging the benefits of Solana, Apricot is building a lending and borrowing platform that will further empower its users through lower liquidation thresholds, penalties, and minimum collateral ratios. The Apricot ecosystem will also feature an array of products set to roll out with the launch of mainnet in Q3 that will solidify Apricot’s position as a key project in the Solana ecosystem. We’re excited to be working with Apricot and are proud to feature them in our portfolio.” — Genblock
“Apricot marks our continued focus and strategic investment into the Solana ecosystem. We are very excited about the future of Solana as well as decentralized applications such as Apricot to take advantage of this user growth.” — Double Peak
“Apricot is the project we are desperate to see in the Solana ecosystem. Lending platforms have always been the core element of Defi space. Apricot will attract a significant amount of capital and users flow to Solana. We’re looking forward to seeing that Apricot plays a significant role in the Solana Defi ecosystem.” — CryptoJ
“Apricot will serve as a natural extension of the current suite of DeFi services on Solana with a borrowing and lending protocol. Institutions participating in DeFi on Solana and Apricot Lend will offer them borrowing power without moving assets off chain.” — Triblock
The Next Step
Apricot Finance allows the borrower to set below market collateralization requirements and lower liquidation thresholds to minimize liquidation penalties and uncertainties. Following this round, Apricot Finance can now focus on catapulting this position within the Blockchain industry. Externally, Apricot can spend more time and resources on improving our first main project, Apricot Lend. Internally, Apricot will expand its team and capabilities in order to provide the company’s supporters with a better and more user-friendly platform.
With great support, Apricot Finance will continue to move forward and aim to strengthen its position as the number one platform for DeFi Solutions. From this point, Apricot Finance is looking forward to actively developing the company and building on its success in the Blockchain industry.
What is Apricot Finance?
Apricot Finance is a decentralized platform for devolved financial solutions, providing over-collateralized loan protocols to its users. The company provides low liquidation penalties with high predictability in outcome with our project “Apricot Lend”. A 2-hour liquidation guarantee “Apricot Rescue” has also been established to give borrowers security in position clearing within a short time. Our ultimate aspiration is to make Apricot the go-to platform for personalized DeFi solutions, enabling everyone to “Defi the way you Defi”.
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