New York based DeFi protocol startup Ondo Finance secured $4 Million funding

Ondo Finance, a New York-based DeFi protocol startup, has now secured $4 Million in funding round.

Ondo Finance is founded by Nathan Allman and Pinku Surana. The DeFi startup offers decentralized finance (DeFi) platform solution which gives users a choice between downside protection and higher returns by revealed pooled liquidity with some of the investment classes.

Nathan Allman, CEO of Ondo Finance, said, "We have just scratched the surface of opportunity in DeFi with services like lending, trading, and basic derivatives. We see a huge opportunity to bring a wider array of products from traditional finance to DeFi and create new financial primitives. Ondo Vaults are our first foray into this. We are grateful for the support of our investors who recognize the immense potential for DeFi to democratize access to a wide range of financial services previously only accessible to institutions."

Paul Veradittakit, Partner at Pantera Capital, said, "Fixed income remains the missing piece that decentralized finance needs to go mainstream. Ondo unlocks downside protection and relative certainty in forecasting returns for institutional investors looking to allocate to the attractive yields in the DeFi space. We are excited to back the Ondo team in their mission to bridge the worlds of DeFi and institutional finance."

Pantera Capital led the latest funding round for the DeFi startup. Other participating investors include the CMS, Digital Currency Groups, Genesis, Divergence, CoinFund, Chapter One, Bixin, Stani Kulechov, The LAO, Protoscale Capital, Christy Choi, Josh Hannah, Diogo Monica, and Richard Ma.

The DeFi firm, Ondo Finance, has plans to use the new funds to accelerate DeFi adoption among mainstream investors by enabling the granular exchange of risk.