Solana

Eden

Quick take:
<ul>
 <li>The company will use the fresh capital to accelerate the development of the Saros Super App.</li>
 <li>Saros is building a one-stop non-custodial app for global payments, purchases and transfer of digital assets.</li>
 <li>The decentralised finance platform also announced the launch of SarosID, its privacy-preserving digital identity solution.</li>
</ul>
Saros has announced a $3.75 million fundraising in a private round backed by Solana Ventures, Hashed, Spartan, and Arche Fund. The fundraising also attracted participation from GBV, Assym, IF, Genblock, K300, Cryptomind, Kyros, and Evernew, among others.
Saros is building Saros Super App, a non-custodial Web3 app to serve as a one-stop platform for global payments, purchases and transfer of digital assets.&nbsp;
Built on the Solana blockchain, Saros said it will use the funds to accelerate the development of its app and support its expansion plans. The super app is scheduled for launch in the first quarter of 2024.
This announcement comes nearly two weeks after the company announced the Saros Super App and the $SAROS token on December 26, 2023.
Saros also announced the launch of its privacy-preserving digital identity solution, SarosID, which will be used to accelerate the adoption of the Saros Super App services. The decentralised ID system enables seamless access and encourages engagement with the Saros Super App.
Commenting on the fundraising via a <a href="https://blog.saros.finance/saros-raised-3-75m-in-private-round-from-solana-ventures-hashed-spartan-arche-fund/" target="_blank" rel="noopener noreferrer nofollow">blog post</a>, Saros wrote: “The successful funding round and the imminent launch of new Saros products position us to accelerate growth, foster innovation, and build a more inclusive and accessible financial ecosystem for all. With the support of our investors, we are committed to reshaping the decentralized finance landscape and revolutionizing how users interact with digital assets.”
This fundraising builds on the growing <a href="https://www.nftgators.com/nfts-are-dead-recent-data-shows-a-new-lease-on-life/" rel="noopener noreferrer nofollow">excitement around the Solana ecosystem</a>. The layer-1 blockchain has been headlining key milestones in Web3 with the recent surge in the $BONK meme coin and the sellout of the Saga phone among key highlights.&nbsp;
The platform’s NFT sales have also hit headlines, with its two leading marketplaces Tensor and Magic Eden over 393K SOL ($44.8m) to its users over the past seven days, according to a Dune Analytics dashboard prepared by Andrew Whong.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Solana NFT marketplaces <a href="https://twitter.com/tensor_hq?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@tensor_hq</a> and <a href="https://twitter.com/MagicEden?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MagicEden</a> paid over 393K SOL ($44.8m) to its users, highest weekly sum to date. – Tensor paid 326.9K SOL, an average of $584 per wallet – Magic Eden paid 66.5K SOL, an average of $122 per wallet<a href="https://twitter.com/DuneAnalytics?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@DuneAnalytics</a> dashboard by <a href="https://twitter.com/andrewhong5297?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@andrewhong5297</a> <a href="https://t.co/R01yR0DMXv" rel="noopener noreferrer nofollow">pic.twitter.com/R01yR0DMXv</a>— NFTgators <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f40a.png" alt="🐊" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@NFTgators) <a href="https://twitter.com/NFTgators/status/1739635632891220000?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 26, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
****
Stay up to date:
Subscribe to our newsletter using&nbsp;<a href="https://nftgators.substack.com/" target="_blank" rel="noopener noreferrer nofollow">this link</a>&nbsp;– we won’t spam!
<ul>
 <li><a href="https://news.google.com/publications/CAAqBwgKMKqZrgswt6TGAw?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" target="_blank" rel="noopener noreferrer nofollow">Google News</a></li>
 <li><a href="https://twitter.com/NFTgators" rel="noopener noreferrer nofollow">Twitter</a></li>
 <li><a href="https://t.me/NFTgatorsNews" rel="noopener noreferrer nofollow">Telegram</a></li>
 <li><a href="https://www.linkedin.com/company/nftgators/" rel="noopener noreferrer nofollow">LinkedIn</a></li>
 <li><a href="https://facebook.com/NFTgators-103707808818830" rel="noopener noreferrer nofollow">Facebook</a></li>
 <li><a href="https://www.tiktok.com/@nftgators" rel="noopener noreferrer nofollow">TikTok</a></li>
</ul>
The post <a href="https://www.nftgators.com/solana-based-defi-platform-saros-secures-3-75m-in-a-private-funding-round/" rel="noopener noreferrer nofollow">Solana-Based DeFi Platform Saros Secures $3.75M in a Private Funding Round</a> appeared first on <a href="https://www.nftgators.com" rel="noopener noreferrer nofollow">NFTgators </a>.

Solana-Based DeFi Platform Saros Secures $3.75M in a Private Funding Round

NFTgators

Other articles published on Jan 8, 2024

BTC Rises Above $45,000 Again as Spot Bitcoin ETF Approval Expectations Increase! Millions of Dol...

SEC Advises Against “FOMO” Ahead of Bitcoin ETF Decision

XRP Enthusiasts Awaiting New High; Dogecoin (DOGE) and RebelSatoshi (RBLZ) Hyped for Epic Pump

Honduras SEZ Recognizes Bitcoin as Unit of Account to Further Financial Freedom

High Hopes for US Approval of Spot Bitcoin ETFs Despite Market Skepticism

Upbit Singapore Secures Major Crypto License, Eyes Digital Asset Expansion in Asia

Join our free newsletter for daily crypto updates!