Zharta Raises $4.3M to Accelerate Growth of Instant NFT Loans
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Lisbon, Portugal, July 20, 2022, Chainwire
DeFi company Zharta has secured seed funding from leading Web3 VCs and strategic investors to accelerate its growth to meet customer demand and get into the market.
Zharta, creator of a lending protocol for instant NFT secured loans, has closed a $4 million round of new capital to fuel the company’s next phase of growth. The company originally raised a $300,000 acceleration round from angel investors.
Leading investors include lead investor Greenfield One, followed by institutional VCs Shilling Capital and Possible Ventures, leading web3 industry players SpaceShipDao and UniwhalesDao, as well as Clever, Olisipo Way and other strategic business angels. This round of seed funding was assisted by the law firm Cuatrecasas.
Zharta will allocate the new funds primarily to customer requests, followed by R&D, sales and marketing. The goal is to accelerate market penetration and expand deployments to improve the instant lending platform. To implement these goals, they will add up to 20 new recruits to their current team of 12.
“Zharta provides an important building block in NFT financialization. We are very pleased to be able to support Zharta as a lead investor in bringing this great NFT use case to market quickly,” says David An, Partner at Greenfield One
Zharta has created a real-time lending model leveraging Lending Pools and NFT Ratings with Machine Learning and aims for native DeFi and NFT holders to quickly prove the potential of its platform, which the company attributes to its 3 pillars: simplicity, UX-oriented, and trustworthy. Nuno Cortesão, co-founder and CEO of Zharta, hopes that a strong customer-centric foundation will allow them to grow: “We aim to provide the best user-centric experience so that we can reach a wider audience. broad in the future,” Nuno said, “moving from early adopters to the mass market.”
Currently, the collections that can be guaranteed are: Doodles, Mutant Ape Yacht Club, Bored Ape Kennel Club, World of Women, VeeFriends, Cool Cats, Hashmasks and Pudgy Penguins, with “more collections to be added in the near future”, guarantees the CEO.
“We are optimistic about the future of NFTs and their role in the changing landscape of climate technology, scientific innovation and data platforms more generally. As NFTs become ubiquitous, we view Zharta’s work to unlock liquidity as an essential part of the NFT ecosystem and believe that Nuno and the Zharta team will be important contributors to the NFT community,” said Simon Leicht, partner at Possible Ventures.
“We believe the right conditions exist to accelerate protocols at the intersection of DeFi and NFTs, so we couldn’t be more excited to support the Zharta team in this investment round. Central to the infrastructure that has yet to be unlocked is Collateral – this is where Zharta comes in, with a solution that provides liquidity to collectors and the general NFT market, while encouraging new parties to participate to the ecosystem.” says Pedro Rosa, of Shilling.vc.
Zharta has already gone through a testing phase, during which it collected user feedback to launch a platform that responds to consumer wants, needs and concerns, thereby improving user experience. This phase also allowed them to solve security problems by auditing the Smart-Contracts.
Zharta aims to leverage AI ratings and DeFi pools to fund NFTs. This includes existing assets such as collectibles, but will also cover emerging play2earn gaming, metaverse and art markets.
Showing a down-to-earth and pragmatic mentality, Zharta is not extravagant. It focuses on solid growth and provides the market with a solid and financially viable value proposition. He wants to build good partnerships in Web3 and build on the value that others have created, become an essential piece of the whole, build complex primitives and integrate with institutional players. Zharta envisions a future where TradFi and DeFi collaborate reliably and where digital assets are treated with the utmost respect in the financial system.
The official launch of Zharta’s platform is expected to take place at the end of the summer.
Zharta is a unique blockchain protocol that offers a solution to the illiquidity problem faced by NFT holders. Through its NFT-backed loans, Zharta enables the democratization of the market by allowing every collector and investor to stake their NFT assets in exchange for crypto tokens. The protocol is built with a strong focus on security and leverages price discovery mechanisms from AI and on-chain index funds to further optimize liquidity, providing a more efficient way to trade NFTs. The project is led by a trio of entrepreneurs (Diogo Pires, Nuno Cortesão and Pedro Granate) with extensive expertise in IT, business development, blockchain programming and gamification theory.
About Greenfield One
Greenfield One is a Berlin-based Early-Stage Crypto Fund and was founded in 2018 by former VC Sebastian Blum and entrepreneur Jascha Samadi. The fund invests early in crypto networks and developer teams across web 3.0 infrastructure, decentralized finance and NFT technology. Greenfield One pursues a very research-driven approach to investing and also actively participates in cryptocurrency networks in the portfolio through its own technical infrastructure and liquidity. Greenfield One is currently investing from its third fund, which is the largest crypto fund in Europe, with 135 million euros in volume.
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